Universal Insurance (NYSE:UVE) Downgraded by StockNews.com to “Buy”

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

Universal Insurance Price Performance

NYSE:UVE opened at $22.28 on Tuesday. The firm has a market capitalization of $630.07 million, a price-to-earnings ratio of 9.05 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance has a 12-month low of $16.50 and a 12-month high of $23.39. The stock’s 50 day moving average price is $20.11 and its two-hundred day moving average price is $20.74.

Universal Insurance (NYSE:UVE) last announced its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The company had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. On average, analysts anticipate that Universal Insurance will post 1.66 earnings per share for the current year.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the sale, the director now owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Sean P. Downes sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 985,320 shares in the company, valued at $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,000 shares of company stock worth $2,424,450. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently added to or reduced their stakes in UVE. Covestor Ltd grew its position 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 buying an additional 1,328 shares in the last quarter. Quarry LP grew its position in Universal Insurance by 55.6% during the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock worth $48,000 after buying an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Universal Insurance during the fourth quarter worth approximately $103,000. Quantbot Technologies LP boosted its holdings in shares of Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 5,058 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Universal Insurance in the 4th quarter valued at $118,000. 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.