Universal Insurance (NYSE:UVE) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a report issued on Sunday.

Other analysts have also issued reports about the stock. Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Piper Sandler upped their target price on Universal Insurance from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Universal Insurance has a consensus rating of “Hold” and an average price target of $45.00.

Universal Insurance Stock Down 0.2%

Shares of Universal Insurance stock opened at $44.06 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. Universal Insurance has a 12-month low of $23.25 and a 12-month high of $45.15. The company has a market cap of $1.23 billion, a P/E ratio of 5.81 and a beta of 0.72. The company’s fifty day simple moving average is $40.28 and its two-hundred day simple moving average is $36.62.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.57 by $0.27. The firm had revenue of $419.38 million during the quarter, compared to analysts’ expectations of $614.62 million. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. Research analysts anticipate that Universal Insurance will post 4.85 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, July 31st. Universal Insurance’s dividend payout ratio (DPR) is presently 8.44%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total transaction of $885,400.00. Following the completion of the transaction, the chairman directly owned 1,104,645 shares of the company’s stock, valued at $48,902,634.15. This trade represents a 1.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 60,000 shares of company stock worth $2,424,400. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in UVE. Pursuit Wealth Management LLC purchased a new stake in shares of Universal Insurance during the fourth quarter valued at approximately $1,745,000. Vanguard Group Inc. raised its holdings in Universal Insurance by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 2,007,725 shares of the insurance provider’s stock worth $67,861,000 after acquiring an additional 54,004 shares during the last quarter. Sierra Summit Advisors LLC purchased a new position in Universal Insurance in the 4th quarter worth approximately $1,006,000. Legato Capital Management LLC lifted its position in Universal Insurance by 37.6% in the 4th quarter. Legato Capital Management LLC now owns 72,031 shares of the insurance provider’s stock valued at $2,435,000 after acquiring an additional 19,673 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Universal Insurance by 24.4% in the 4th quarter. SG Americas Securities LLC now owns 11,046 shares of the insurance provider’s stock valued at $373,000 after acquiring an additional 2,165 shares in the last quarter. Institutional investors own 66.61% of the company’s stock.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.