Universal Insurance (NYSE:UVE) was upgraded by investment analysts at ValuEngine from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.
Separately, Piper Sandler began coverage on Universal Insurance in a report on Thursday, May 28th. They set a "neutral" rating and a $19.00 price target on the stock.
NYSE UVE opened at $18.16 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.43 and a current ratio of 0.43. The business's fifty day moving average is $17.66 and its 200 day moving average is $22.86. The company has a market capitalization of $575.75 million, a PE ratio of 24.88 and a beta of 0.89. Universal Insurance has a fifty-two week low of $14.20 and a fifty-two week high of $30.79.
Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $0.79 EPS for the quarter, beating the Zacks' consensus estimate of $0.75 by $0.04. The business had revenue of $235.28 million for the quarter. Universal Insurance had a return on equity of 8.42% and a net margin of 2.82%. On average, sell-side analysts forecast that Universal Insurance will post 2.95 EPS for the current year.
In other news, Director Sean P. Downes bought 3,000 shares of Universal Insurance stock in a transaction dated Monday, March 9th. The shares were purchased at an average cost of $21.39 per share, with a total value of $64,170.00. Following the completion of the acquisition, the director now owns 1,488,682 shares of the company's stock, valued at approximately $31,842,907.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sean P. Downes bought 5,000 shares of Universal Insurance stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $21.53 per share, for a total transaction of $107,650.00. Following the completion of the acquisition, the director now directly owns 1,485,682 shares of the company's stock, valued at approximately $31,986,733.46. The disclosure for this purchase can be found here. Insiders bought 9,000 shares of company stock worth $191,900 over the last ninety days. Insiders own 14.00% of the company's stock.
Several hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Universal Insurance by 1.0% in the fourth quarter. Swiss National Bank now owns 62,100 shares of the insurance provider's stock worth $1,738,000 after purchasing an additional 600 shares during the last quarter. BancorpSouth Bank increased its stake in Universal Insurance by 4.2% during the first quarter. BancorpSouth Bank now owns 16,252 shares of the insurance provider's stock worth $291,000 after acquiring an additional 650 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Universal Insurance by 53.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,141 shares of the insurance provider's stock worth $60,000 after acquiring an additional 746 shares during the last quarter. Comerica Bank increased its stake in Universal Insurance by 2.7% during the first quarter. Comerica Bank now owns 29,579 shares of the insurance provider's stock worth $519,000 after acquiring an additional 787 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Universal Insurance by 23.7% during the fourth quarter. Bank of Montreal Can now owns 5,365 shares of the insurance provider's stock worth $150,000 after acquiring an additional 1,028 shares during the last quarter. 73.05% of the stock is currently owned by hedge funds and other institutional investors.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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