Universal Insurance (NYSE:UVE) Rating Increased to Hold at Zacks Investment Research

Universal Insurance (NYSE:UVEGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Universal Insurance Holdings, Inc., through its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), is currently engaged in insurance underwriting, distribution and claims. UPCIC generates revenue from the collection and investment of premiums. The Company’s agency operations which include Universal Florida Insurance Agency and U.S. Insurance Solutions, Inc. generate income from policy fees, commissions, premium financing referral fees and the marketing of ancillary services. “

A number of other brokerages have also recently weighed in on UVE. StockNews.com assumed coverage on Universal Insurance in a research note on Thursday, March 31st. They set a “hold” rating for the company. TheStreet lowered shares of Universal Insurance from a “b” rating to a “c+” rating in a research report on Friday, February 11th.

Shares of UVE opened at $12.56 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50 day moving average price of $12.68 and a 200-day moving average price of $14.82. Universal Insurance has a fifty-two week low of $11.55 and a fifty-two week high of $19.64. The stock has a market capitalization of $392.37 million, a PE ratio of 34.89 and a beta of 1.14.

Universal Insurance (NYSE:UVEGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The insurance provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Universal Insurance had a net margin of 1.82% and a return on equity of 4.05%. During the same period in the prior year, the business earned $0.84 earnings per share. Equities research analysts forecast that Universal Insurance will post 1.55 EPS for the current year.

In other Universal Insurance news, CEO Stephen Donaghy purchased 10,000 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were acquired at an average price of $11.90 per share, for a total transaction of $119,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Frank Wilcox acquired 2,750 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were bought at an average price of $11.94 per share, for a total transaction of $32,835.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 14,750 shares of company stock worth $176,355. Insiders own 17.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. McIlrath & Eck LLC purchased a new position in shares of Universal Insurance in the fourth quarter worth about $43,000. Lazard Asset Management LLC purchased a new position in Universal Insurance during the 4th quarter worth approximately $48,000. Metropolitan Life Insurance Co NY lifted its stake in Universal Insurance by 105.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,935 shares of the insurance provider’s stock valued at $90,000 after acquiring an additional 3,567 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at $125,000. Finally, Trexquant Investment LP acquired a new stake in shares of Universal Insurance in the third quarter worth $150,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Universal Insurance Company Profile (Get Rating)

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company 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.

Read More

Get a free copy of the Zacks research report on Universal Insurance (UVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.