Universal Insurance (NYSE:UVE) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• Universal Insurance (NYSE:UVE) has been given a "Buy (B)" rating by Weiss Ratings, with additional improvements from other analysts boosting its consensus rating to "Strong Buy."
• The company's stock price increased by 11.5% to $31.92, with trading volumes surpassing its average.
• In the latest earnings report, Universal Insurance reported an EPS of $1.36, exceeding the analysts' estimate of $1.10, alongside a revenue of $592.77 million.

Universal Insurance (NYSE:UVE - Get Free Report)'s stock had its "buy (b)" rating restated by stock analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Zacks Research raised shares of Universal Insurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, Universal Insurance presently has a consensus rating of "Strong Buy".

Universal Insurance Stock Up 11.5%

NYSE:UVE traded up $3.29 during mid-day trading on Friday, reaching $31.92. The stock had a trading volume of 280,409 shares, compared to its average volume of 205,924. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $903.80 million, a price-to-earnings ratio of 13.94 and a beta of 0.79. Universal Insurance has a 1-year low of $18.72 and a 1-year high of $31.62. The stock's 50 day simple moving average is $26.20 and its two-hundred day simple moving average is $25.47.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.26. The company had revenue of $592.77 million for the quarter, compared to the consensus estimate of $366.36 million. Universal Insurance had a return on equity of 15.37% and a net margin of 4.24%. Equities analysts anticipate that Universal Insurance will post 1.66 EPS for the current year.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.35, for a total transaction of $507,000.00. Following the sale, the chairman owned 1,303,512 shares of the company's stock, valued at $33,044,029.20. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Universal Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in Universal Insurance in the 3rd quarter valued at about $32,000. Quarry LP bought a new position in shares of Universal Insurance in the first quarter valued at approximately $59,000. State of Wyoming bought a new stake in Universal Insurance during the first quarter worth approximately $64,000. Ameritas Investment Partners Inc. lifted its position in Universal Insurance by 28.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider's stock worth $72,000 after purchasing an additional 577 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Universal Insurance by 390.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock valued at $74,000 after purchasing an additional 2,114 shares in the last quarter. 66.61% of the stock is currently 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.

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