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

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

Universal Insurance Trading Up 0.7 %

Shares of UVE opened at $19.48 on Tuesday. The firm’s 50 day simple moving average is $20.62 and its 200 day simple moving average is $20.59. The company has a market capitalization of $551.06 million, a P/E ratio of 7.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. Universal Insurance has a 1-year low of $15.78 and a 1-year high of $23.39.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 25,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the sale, the director now owns 383,228 shares in the company, valued at approximately $7,905,993.64. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the transaction, the chairman now directly owns 985,320 shares of the company’s stock, valued at $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,064 shares of company stock valued at $1,879,587 in the last quarter. 17.50% of the stock is owned by insiders.

Institutional Trading of Universal Insurance

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Universal Insurance by 7.7% during the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock valued at $15,289,000 after acquiring an additional 49,123 shares during the period. CWA Asset Management Group LLC lifted its position in Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after purchasing an additional 285,338 shares during the period. Barclays PLC lifted its position in shares of Universal Insurance by 69.5% during the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after acquiring an additional 28,278 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Universal Insurance in the third quarter valued at $636,000. Finally, Jane Street Group LLC increased its stake in shares of Universal Insurance by 2,142.1% in the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock worth $1,325,000 after acquiring an additional 57,108 shares during the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

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.