Universal Insurance (NYSE:UVE) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Several other research firms also recently commented on UVE. TheStreet upgraded Universal Insurance from a c+ rating to a b rating in a report on Monday, February 26th. Piper Sandler restated an overweight rating and set a $25.00 price objective on shares of Universal Insurance in a report on Monday, April 1st.

Universal Insurance Trading Down 3.7 %

Shares of NYSE UVE opened at $19.54 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.53 and a current ratio of 0.53. The business’s 50 day moving average price is $19.51 and its 200-day moving average price is $17.25. Universal Insurance has a fifty-two week low of $11.15 and a fifty-two week high of $22.38. The company has a market cap of $566.07 million, a price-to-earnings ratio of 7.66 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.20. The firm 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 20.25% and a net margin of 5.29%. On average, sell-side analysts expect that Universal Insurance will post 2.3 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.64 annualized dividend and a yield of 3.28%. Universal Insurance’s dividend payout ratio (DPR) is presently 25.10%.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the 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 sale, the chairman now owns 1,191,390 shares of the company’s stock, valued at approximately $23,267,846.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.70% of the company’s stock.

Institutional Trading of Universal Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its position in Universal Insurance by 31.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider’s stock valued at $27,201,000 after acquiring an additional 404,446 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Universal Insurance in the 3rd quarter worth $7,935,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Universal Insurance by 0.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock worth $6,081,000 after purchasing an additional 2,175 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Universal Insurance in the 4th quarter worth $6,387,000. Finally, Acadian Asset Management LLC boosted its position in shares of Universal Insurance by 250.2% in the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock worth $4,765,000 after purchasing an additional 242,895 shares in the last quarter. Institutional investors own 66.61% of the company’s stock.

About Universal Insurance

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.