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

Universal Insurance (NYSE:UVEGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Sunday.

Universal Insurance Stock Up 1.1 %

Shares of UVE opened at $21.72 on Friday. The firm has a market cap of $614.37 million, a P/E ratio of 8.83 and a beta of 0.90. Universal Insurance has a 1 year low of $15.63 and a 1 year high of $23.27. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50 day simple moving average of $20.57 and a two-hundred day simple moving average of $19.86.

Universal Insurance (NYSE:UVEGet Free Report) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The firm had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. On average, analysts forecast that Universal Insurance will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the sale, the chairman now owns 1,082,262 shares in the company, valued at $24,318,427.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the sale, the director now directly owns 473,899 shares of the company’s stock, valued at $9,729,146.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,173 shares of company stock worth $1,575,702 in the last 90 days. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Universal Insurance by 16.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,232 shares of the insurance provider’s stock valued at $3,861,000 after acquiring an additional 24,919 shares in the last quarter. Aigen Investment Management LP bought a new stake in Universal Insurance during the third quarter worth approximately $202,000. GSA Capital Partners LLP increased its stake in Universal Insurance by 108.6% during the third quarter. GSA Capital Partners LLP now owns 93,851 shares of the insurance provider’s stock worth $2,080,000 after acquiring an additional 48,864 shares during the last quarter. Versor Investments LP bought a new stake in Universal Insurance during the third quarter worth approximately $292,000. Finally, Covestor Ltd increased its stake in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 1,328 shares during the last quarter. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Insurance

(Get Free Report)

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.

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