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

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

Several other equities analysts have also weighed in on UVE. Piper Sandler restated an “overweight” rating and set a $25.00 price target on shares of Universal Insurance in a research report on Monday, April 1st. TheStreet upgraded shares of Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th.

Universal Insurance Price Performance

UVE opened at $19.54 on Friday. The firm has a market cap of $566.07 million, a P/E ratio of 7.66 and a beta of 0.83. The firm has a 50-day moving average of $19.55 and a 200 day moving average of $17.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.53 and a current ratio of 0.53. Universal Insurance has a fifty-two week low of $11.15 and a fifty-two week high of $22.38.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.20. The company had revenue of $375.46 million during the quarter, compared to analyst estimates of $328.12 million. Universal Insurance had a net margin of 5.29% and a return on equity of 20.25%. On average, research analysts expect that Universal Insurance will post 2.3 EPS for the current year.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.53, for a total transaction of $390,600.00. Following the completion of the transaction, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Universal Insurance by 11,666.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock worth $1,193,000 after buying an additional 58,214 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Universal Insurance in the first quarter worth about $289,000. Aigen Investment Management LP purchased a new stake in shares of Universal Insurance in the fourth quarter worth about $296,000. Quest Partners LLC purchased a new stake in shares of Universal Insurance in the fourth quarter worth about $356,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Universal Insurance in the fourth quarter worth about $1,901,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

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.