Universal Insurance (NYSE:UVE) Stock Rating Upgraded by Zacks Research

Universal Insurance (NYSE:UVE) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on UVE. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Universal Insurance Trading Up 0.9%

NYSE UVE opened at $28.54 on Tuesday. Universal Insurance has a one year low of $18.72 and a one year high of $30.48. The company has a 50-day simple moving average of $26.11 and a 200-day simple moving average of $25.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $808.34 million, a PE ratio of 12.46 and a beta of 0.79.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, July 24th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The business had revenue of $596.72 million during the quarter, compared to analyst estimates of $359.98 million. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. On average, equities analysts forecast that Universal Insurance will post 1.66 earnings per share for the current year.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.35, for a total transaction of $507,000.00. Following the sale, the chairman directly owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.60% of the company’s stock.

Institutional Trading of Universal Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC raised its holdings in shares of Universal Insurance by 42.9% in the 1st quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider’s stock worth $1,040,000 after purchasing an additional 13,177 shares in the last quarter. Informed Momentum Co LLC bought a new stake in shares of Universal Insurance in the 1st quarter worth approximately $855,000. Hsbc Holdings PLC bought a new stake in shares of Universal Insurance in the 1st quarter worth approximately $487,000. Nuveen LLC bought a new stake in shares of Universal Insurance in the 1st quarter worth approximately $2,197,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Universal Insurance by 5.3% in the 1st quarter. Russell Investments Group Ltd. now owns 207,913 shares of the insurance provider’s stock worth $4,928,000 after purchasing an additional 10,486 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.