Universal Insurance (NYSE:UVE) Stock Rating Lowered by StockNews.com

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

Universal Insurance Trading Up 0.6 %

Shares of UVE stock opened at $22.86 on Wednesday. The company has a market capitalization of $642.22 million, a P/E ratio of 9.29 and a beta of 0.84. Universal Insurance has a 12-month low of $16.50 and a 12-month high of $23.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $20.69 and a 200 day moving average price of $20.84.

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

Insider Activity

In other news, Chairman Sean P. Downes sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the transaction, the chairman now directly owns 985,320 shares in the company, valued at approximately $20,208,913.20. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 90,000 shares of company stock worth $1,908,700. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Universal Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP boosted its position in Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after buying an additional 776 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Universal Insurance during the fourth quarter valued at $103,000. Quantbot Technologies LP lifted its stake in shares of Universal Insurance by 45,981.8% during the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 5,058 shares during the period. Aquatic Capital Management LLC bought a new position in Universal Insurance in the fourth quarter valued at about $121,000. Finally, Sunbelt Securities Inc. acquired a new stake in Universal Insurance in the fourth quarter worth about $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.