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

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

A number of other equities research analysts have also recently weighed in on the company. TheStreet raised Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th. Piper Sandler reissued an “overweight” rating and set a $25.00 target price on shares of Universal Insurance in a report on Monday, April 1st.

Universal Insurance Stock Performance

UVE stock traded down $0.76 during midday trading on Friday, reaching $19.54. The company had a trading volume of 442,578 shares, compared to its average volume of 187,287. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $19.51 and a 200 day moving average price of $17.25. Universal Insurance has a fifty-two week low of $11.15 and a fifty-two week high of $22.38. The firm has a market capitalization of $566.07 million, a PE ratio of 8.88 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. The company had revenue of $375.46 million for the quarter, compared to analysts’ expectations of $328.12 million. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. Analysts anticipate that Universal Insurance will post 2.3 earnings per share for the current year.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. 17.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UVE. AJOVista LLC purchased a new position in Universal Insurance during the 4th quarter worth approximately $25,000. Versor Investments LP purchased a new position in Universal Insurance during the 3rd quarter worth approximately $140,000. Tompkins Financial Corp purchased a new position in Universal Insurance during the 3rd quarter worth approximately $153,000. Laurion Capital Management LP purchased a new position in Universal Insurance during the 3rd quarter worth approximately $154,000. Finally, Olympiad Research LP purchased a new position in Universal Insurance during the 3rd quarter worth approximately $174,000. 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.