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

StockNews.com downgraded shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $20.05 on Tuesday. The firm has a market capitalization of $567.10 million, a P/E ratio of 8.15 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $20.45 and a 200 day moving average price of $20.58. Universal Insurance has a 52 week low of $15.78 and a 52 week high of $23.39.

Universal Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be given a dividend of $0.16 per share. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a yield of 3.19%. Universal Insurance’s dividend payout ratio (DPR) is currently 26.02%.

Insiders Place Their Bets

In related news, Director Jon Springer sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the sale, the director now owns 383,228 shares of the company’s stock, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the completion of the sale, the chairman now directly owns 985,320 shares of the company’s stock, valued at $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,064 shares of company stock valued at $1,879,587. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UVE. Quarry LP lifted its position in Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after buying an additional 1,129 shares during the last quarter. Covestor Ltd lifted its position in Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after buying an additional 1,328 shares during the last quarter. CWM LLC lifted its position in Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after buying an additional 723 shares during the last quarter. Aigen Investment Management LP acquired a new position in Universal Insurance in the third quarter valued at about $202,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Universal Insurance in the third quarter valued at about $206,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

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.