Upgrades Universal Insurance (NYSE:UVE) to Buy

Universal Insurance (NYSE:UVEGet Rating) was upgraded by from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Universal Insurance Price Performance

Universal Insurance stock opened at $12.62 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.38 and a current ratio of 0.56. The stock has a market capitalization of $387.64 million, a price-to-earnings ratio of -126.20 and a beta of 0.97. The stock’s 50 day moving average price is $12.45 and its two-hundred day moving average price is $13.13. Universal Insurance has a 52-week low of $11.27 and a 52-week high of $19.64.

Insiders Place Their Bets

In related news, Director Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $12.93, for a total transaction of $258,600.00. Following the completion of the sale, the director now owns 1,401,539 shares in the company, valued at $18,121,899.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Institutional investors have recently modified their holdings of the business. Invesco Ltd. increased its holdings in Universal Insurance by 139.8% during the fourth quarter. Invesco Ltd. now owns 910,126 shares of the insurance provider’s stock worth $15,473,000 after buying an additional 530,611 shares during the last quarter. State Street Corp increased its stake in shares of Universal Insurance by 22.4% during the 1st quarter. State Street Corp now owns 1,201,489 shares of the insurance provider’s stock worth $16,208,000 after purchasing an additional 219,723 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Universal Insurance in the 4th quarter worth approximately $3,431,000. Dimensional Fund Advisors LP grew its holdings in Universal Insurance by 9.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,726,844 shares of the insurance provider’s stock valued at $23,295,000 after purchasing an additional 142,189 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Universal Insurance in the first quarter worth $1,874,000. 65.84% of the stock is owned by institutional investors.

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.

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