Universal Insurance (NYSE:UVE) Downgraded 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 Saturday morning.

Several other research firms have also issued reports on UVE. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research note on Monday, April 20th. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Universal Insurance has an average rating of “Buy” and a consensus target price of $40.00.

Universal Insurance Price Performance

NYSE:UVE opened at $39.78 on Friday. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.89 and a beta of 0.77. Universal Insurance has a 52-week low of $21.96 and a 52-week high of $41.96. The stock has a fifty day moving average of $34.72 and a 200 day moving average of $32.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.61. The company had revenue of $398.16 million during the quarter, compared to analyst estimates of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. On average, research analysts expect that Universal Insurance will post 4.75 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, May 8th. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. Universal Insurance’s dividend payout ratio (DPR) is presently 9.48%.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $39.69, for a total transaction of $793,800.00. Following the sale, the chairman owned 1,188,255 shares in the company, valued at $47,161,840.95. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Kimberly D. Campos sold 879 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the sale, the chief accounting officer owned 7,422 shares in the company, valued at $251,160.48. The trade was a 10.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,879 shares of company stock worth $1,515,545 in the last 90 days. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently added to or reduced their stakes in UVE. Millennium Management LLC raised its position in Universal Insurance by 212.3% during the third quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock valued at $15,685,000 after purchasing an additional 405,403 shares in the last quarter. BNP Paribas Financial Markets raised its position in Universal Insurance by 106.0% during the third quarter. BNP Paribas Financial Markets now owns 280,957 shares of the insurance provider’s stock valued at $7,389,000 after purchasing an additional 144,553 shares in the last quarter. Geode Capital Management LLC raised its position in Universal Insurance by 19.8% during the fourth quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider’s stock valued at $27,566,000 after purchasing an additional 134,805 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in Universal Insurance during the fourth quarter valued at about $4,481,000. Finally, Vanguard Group Inc. raised its position in Universal Insurance by 5.9% during the third quarter. Vanguard Group Inc. now owns 1,953,721 shares of the insurance provider’s stock valued at $51,383,000 after purchasing an additional 108,660 shares in the last quarter. Hedge funds and other 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.