StockNews.com Downgrades Universal Insurance (NYSE:UVE) to Buy

Universal Insurance (NYSE:UVE) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Universal Insurance Stock Up 0.6 %

Shares of UVE stock opened at $22.86 on Wednesday. Universal Insurance has a 12 month low of $16.50 and a 12 month high of $23.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $642.22 million, a PE ratio of 9.29 and a beta of 0.84. The stock has a 50 day moving average of $20.69 and a 200-day moving average of $20.84.

Universal Insurance (NYSE:UVE) last released its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.09 by $0.16. The firm had revenue of $384.81 million during the quarter, compared to analysts’ expectations of $349.91 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. On average, equities analysts predict that Universal Insurance will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the sale, the chairman now directly owns 990,200 shares in the company, valued at approximately $21,863,616. The trade was a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 90,000 shares of company stock worth $1,908,700. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Universal Insurance during the 4th quarter worth about $928,000. Mackenzie Financial Corp acquired a new position in Universal Insurance in the fourth quarter worth about $594,000. Sunbelt Securities Inc. bought a new position in Universal Insurance during the fourth quarter worth about $118,000. Man Group plc boosted its holdings in Universal Insurance by 31.3% during the fourth quarter. Man Group plc now owns 71,313 shares of the insurance provider’s stock valued at $1,502,000 after purchasing an additional 17,020 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Universal Insurance by 120.6% in the 4th quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider’s stock valued at $2,666,000 after purchasing an additional 69,205 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.