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

Universal Insurance (NYSE:UVE - Get Free Report) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Friday.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 price target on shares of Universal Insurance in a report on Monday, April 1st. TheStreet raised Universal Insurance from a "c+" rating to a "b" rating in a report on Monday, February 26th.

Universal Insurance Price Performance

UVE stock traded down $0.76 during mid-day trading on Friday, reaching $19.54. 442,578 shares of the company's stock were exchanged, compared to its average volume of 187,287. The company has a market cap of $566.07 million, a price-to-earnings ratio of 8.88 and a beta of 0.83. The stock's 50 day moving average is $19.51 and its 200 day moving average is $17.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. Universal Insurance has a 12-month low of $11.15 and a 12-month high of $22.38.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.20. The business had revenue of $375.46 million for the quarter, compared to the consensus estimate of $328.12 million. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. On average, research analysts expect that Universal Insurance will post 2.3 EPS for the current year.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total transaction of $390,600.00. Following the completion of the sale, the chairman now owns 1,191,390 shares of the company's stock, valued at $23,267,846.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Universal Insurance during the fourth quarter worth $6,387,000. Acadian Asset Management LLC boosted its position in shares of Universal Insurance by 250.2% during the third quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider's stock worth $4,765,000 after buying an additional 242,895 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Universal Insurance by 0.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider's stock worth $6,081,000 after buying an additional 2,175 shares during the period. GSA Capital Partners LLP boosted its position in shares of Universal Insurance by 94.8% during the third quarter. GSA Capital Partners LLP now owns 173,801 shares of the insurance provider's stock worth $2,437,000 after buying an additional 84,573 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in shares of Universal Insurance during the third quarter worth $328,000. 66.61% 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. 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.

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