Universal Insurance (NYSE:UVE) Stock Rating Lowered by StockNews.com

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

Universal Insurance Price Performance

Shares of NYSE UVE opened at $20.35 on Friday. Universal Insurance has a twelve month low of $16.50 and a twelve month high of $23.39. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $575.70 million, a price-to-earnings ratio of 8.27 and a beta of 0.91. The firm has a 50-day moving average of $20.20 and a two-hundred day moving average of $20.60.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares of the company’s stock, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 50,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the sale, the chairman now directly owns 985,320 shares of the company’s stock, valued at $20,208,913.20. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Universal Insurance

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Universal Insurance during the fourth quarter valued at about $309,000. Barclays PLC lifted its stake in Universal Insurance by 7.1% during the fourth quarter. Barclays PLC now owns 73,857 shares of the insurance provider’s stock valued at $1,555,000 after buying an additional 4,888 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Universal Insurance by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 357,100 shares of the insurance provider’s stock worth $7,521,000 after purchasing an additional 33,900 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Universal Insurance by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider’s stock worth $291,000 after purchasing an additional 732 shares in the last quarter. Finally, Integrated Quantitative Investments LLC purchased a new stake in shares of Universal Insurance in the fourth quarter worth approximately $1,137,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

About Universal Insurance

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.