Universal Insurance (NYSE:UVE) Rating Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of Universal Insurance (NYSE:UVE - Free Report) from a strong-buy rating to a hold rating in a report released on Saturday.

Universal Insurance Stock Up 1.1 %

Shares of Universal Insurance stock traded up $0.22 during midday trading on Friday, reaching $20.16. 255,840 shares of the company's stock traded hands, compared to its average volume of 324,463. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.51. Universal Insurance has a 52 week low of $15.63 and a 52 week high of $23.27. The company's 50 day simple moving average is $20.59 and its 200 day simple moving average is $19.81. The company has a market cap of $570.33 million, a price-to-earnings ratio of 8.20 and a beta of 0.90.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.30. The company had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period last year, the company earned ($0.16) earnings per share. Equities analysts expect that Universal Insurance will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Universal Insurance news, Director Jon Springer sold 35,173 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the sale, the director now directly owns 473,899 shares of the company's stock, valued at $9,729,146.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now owns 1,082,262 shares in the company, valued at $24,318,427.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,173 shares of company stock valued at $1,575,702 in the last quarter. Insiders own 17.50% of the company's stock.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors have recently added to or reduced their stakes in UVE. Quarry LP boosted its stake in Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider's stock worth $26,000 after buying an additional 1,129 shares in the last quarter. Covestor Ltd boosted its position in shares of Universal Insurance by 240.1% during the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 1,328 shares in the last quarter. CWM LLC increased its stake 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 acquiring an additional 723 shares during the period. Occidental Asset Management LLC bought a new position in Universal Insurance during the second quarter worth about $196,000. Finally, SG Americas Securities LLC lifted its stake in Universal Insurance by 17.4% during the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider's stock worth $232,000 after purchasing an additional 1,833 shares during the period. 66.61% of the stock is owned by institutional investors and hedge funds.

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.