Universal Insurance (NYSE:UVE) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Universal Insurance from “buy” to “strong buy,” while other analysts’ ratings produced a consensus “Moderate Buy” recommendation with an average price target of $45.
• Universal Insurance shares opened at $43.92, near their 12-month high of $45.15. The company’s latest quarterly earnings beat expectations, reporting $1.84 in EPS versus the $1.57 consensus estimate.
• Institutional ownership stands at 66.61%, following major second-quarter purchases by BlackRock, Donald Smith & Co., RenaissanceRe and others; insiders own 15% of the stock.

Universal Insurance (NYSE:UVE - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently commented on UVE. Zacks Research downgraded shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Piper Sandler upped their price target on shares of 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 upgraded Universal Insurance from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $45.00.

Universal Insurance Trading Up 1.8%

Shares of UVE opened at $43.92 on Friday. Universal Insurance has a twelve month low of $26.61 and a twelve month high of $45.15. The stock has a market cap of $1.22 billion, a PE ratio of 5.79 and a beta of 0.69. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.15. The business's 50-day moving average price is $43.48 and its 200-day moving average price is $39.73.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.27. The company had revenue of $419.38 million during the quarter, compared to analyst estimates of $614.62 million. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. On average, equities analysts forecast that Universal Insurance will post 4.85 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Sean Downes sold 20,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $43.98, for a total transaction of $879,600.00. Following the transaction, the chairman owned 1,084,645 shares of the company's stock, valued at approximately $47,702,687.10. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.00% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Universal Insurance during the second quarter valued at about $111,007,000. Donald Smith & CO. Inc. purchased a new position in shares of Universal Insurance in the second quarter worth about $29,849,000. Renaissancere Holdings Ltd. purchased a new position in shares of Universal Insurance in the second quarter worth about $24,144,769. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Universal Insurance in the 2nd quarter valued at about $10,530,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Universal Insurance in the 2nd quarter valued at about $8,104,000. Hedge funds and other institutional investors own 66.61% of the company's stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc NYSE: UVE is an insurance holding company focused primarily on personal residential property and casualty insurance. Through its operating subsidiaries, the company provides coverage designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

Universal's products have historically included homeowners, condominium, renters and dwelling-fire insurance, along with related personal lines offerings.

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