Universal Insurance (NYSE:UVE) Rating Lowered to Buy at Wall Street Zen

Universal Insurance (NYSE:UVE) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other research firms have also commented on UVE. Zacks Research lowered Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Piper Sandler increased their target price on shares of Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.00.

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $43.26 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of 5.71 and a beta of 0.72. The firm’s fifty day moving average is $40.42 and its 200-day moving average is $36.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 0.57. Universal Insurance has a 52 week low of $23.32 and a 52 week high of $45.15.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.27. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%.The business had revenue of $419.38 million during the quarter, compared to analyst estimates of $614.62 million. Sell-side analysts predict that Universal Insurance will post 4.85 earnings per share for the current year.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total transaction of $885,400.00. Following the completion of the sale, the chairman owned 1,104,645 shares of the company’s stock, valued at $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 60,000 shares of company stock worth $2,424,400. 15.00% of the stock is owned by corporate insiders.

Institutional Trading of Universal Insurance

Several large investors have recently modified their holdings of the stock. Sierra Summit Advisors LLC grew its stake in shares of Universal Insurance by 0.9% in the 1st quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock worth $1,027,000 after acquiring an additional 282 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Universal Insurance by 1.5% during the first quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider’s stock valued at $803,000 after purchasing an additional 348 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Universal Insurance by 1.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock worth $965,000 after purchasing an additional 405 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Universal Insurance by 5.2% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock worth $327,000 after purchasing an additional 474 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in Universal Insurance by 11.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 534 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.