Universal Insurance (NYSE:UVE) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning.

Universal Insurance Trading Up 5.2 %

Universal Insurance stock traded up $1.25 during mid-day trading on Monday, hitting $25.26. The stock had a trading volume of 279,619 shares, compared to its average volume of 179,042. The stock has a market capitalization of $712.19 million, a PE ratio of 10.27 and a beta of 0.76. Universal Insurance has a 12 month low of $16.50 and a 12 month high of $25.64. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $22.52 and a two-hundred day simple moving average of $21.30.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.32. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $394.87 million for the quarter, compared to analyst estimates of $354.97 million. As a group, sell-side analysts forecast that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.53%. Universal Insurance's dividend payout ratio (DPR) is presently 27.95%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the sale, the chairman now directly owns 990,200 shares of the company's stock, valued at $21,863,616. This represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.50% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bailard Inc. acquired a new stake in Universal Insurance during the 1st quarter worth $344,000. Victory Capital Management Inc. raised its position in shares of Universal Insurance by 4.9% during the first quarter. Victory Capital Management Inc. now owns 11,971 shares of the insurance provider's stock worth $284,000 after purchasing an additional 563 shares during the period. Leavell Investment Management Inc. bought a new position in shares of Universal Insurance during the 1st quarter valued at about $251,000. Principal Financial Group Inc. grew its position in shares of Universal Insurance by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 25,064 shares of the insurance provider's stock valued at $594,000 after purchasing an additional 649 shares during the period. Finally, SG Americas Securities LLC increased its stake in Universal Insurance by 19.3% during the 1st quarter. SG Americas Securities LLC now owns 17,658 shares of the insurance provider's stock worth $418,000 after purchasing an additional 2,851 shares in the last quarter. 66.61% of the stock is owned by 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.