Universal Insurance (NYSE:UVE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a report released on Saturday.

A number of other research analysts have also commented on the company. Piper Sandler upped their price target on Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Zacks Research cut shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.00.

Universal Insurance Stock Performance

Universal Insurance stock opened at $44.27 on Friday. Universal Insurance has a twelve month low of $22.87 and a twelve month high of $45.15. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $39.76 and a two-hundred day simple moving average of $36.21. The company has a market capitalization of $1.24 billion, a PE ratio of 5.84 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.27. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%.The company had revenue of $419.38 million during the quarter, compared to analysts’ expectations of $614.62 million. Research analysts expect that Universal Insurance will post 4.85 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 31st will be given a $0.16 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 1.4%. Universal Insurance’s dividend payout ratio (DPR) is presently 8.44%.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the transaction, the chairman directly owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in shares of Universal Insurance in the fourth quarter valued at about $54,000. Tower Research Capital LLC TRC raised its position in Universal Insurance by 390.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,114 shares during the period. Parallel Advisors LLC lifted its position in Universal Insurance by 4,847.3% in the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock worth $93,000 after buying an additional 2,666 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after acquiring an additional 2,324 shares during the last quarter. Finally, Archer Investment Corp bought a new stake in Universal Insurance in the first quarter worth about $95,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.