Universal Insurance (NYSE:UVE) Rating Lowered to Buy at Wall Street Zen

Universal Insurance (NYSE:UVE) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other research firms have also weighed in on UVE. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, Universal Insurance has a consensus rating of “Strong Buy”.

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $33.09 on Friday. The company has a market cap of $928.17 million, a price-to-earnings ratio of 7.80 and a beta of 0.74. Universal Insurance has a one year low of $18.72 and a one year high of $35.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $31.75 and a 200 day simple moving average of $27.59.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.26. The company had revenue of $400.03 million for the quarter, compared to analysts’ expectations of $366.36 million. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%. Research analysts predict that Universal Insurance will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $33.46, for a total transaction of $669,200.00. Following the transaction, the chairman owned 1,263,512 shares of the company’s stock, valued at approximately $42,277,111.52. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jon Springer sold 24,308 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $34.51, for a total transaction of $838,869.08. Following the completion of the transaction, the director owned 247,320 shares of the company’s stock, valued at $8,535,013.20. This represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 99,743 shares of company stock valued at $3,249,082. 16.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Universal Insurance during the 3rd quarter worth about $32,000. Quarry LP acquired a new position in Universal Insurance in the 1st quarter valued at $59,000. State of Wyoming purchased a new stake in shares of Universal Insurance in the first quarter valued at about $64,000. Ameritas Investment Partners Inc. increased its stake in shares of Universal Insurance by 28.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 577 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Universal Insurance by 390.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares during the period. 66.61% of the stock is owned by institutional investors and hedge funds.

About Universal Insurance

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.