Universal Insurance (NYSE:UVE) Raised to "Strong-Buy" at StockNews.com

Universal Insurance (NYSE:UVE - Get Free Report) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Friday.

Universal Insurance Stock Down 4.0 %

Shares of UVE traded down $0.81 during trading hours on Friday, hitting $19.29. The stock had a trading volume of 311,497 shares, compared to its average volume of 190,527. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $19.77. The firm has a market capitalization of $549.38 million, a P/E ratio of 6.82 and a beta of 0.89. Universal Insurance has a 1-year low of $13.85 and a 1-year high of $23.27.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. The company had revenue of $380.21 million during the quarter, compared to the consensus estimate of $340.09 million. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. During the same period last year, the business posted $0.87 EPS. Sell-side analysts predict that Universal Insurance will post 1.28 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the sale, the chairman now directly owns 1,122,262 shares in the company, valued at $22,445,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chairman now owns 1,122,262 shares in the company, valued at approximately $22,445,240. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now owns 473,899 shares of the company's stock, valued at $9,729,146.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,173 shares of company stock worth $1,571,502 in the last three months. Company insiders own 17.50% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

Several hedge funds have recently modified their holdings of UVE. Allspring Global Investments Holdings LLC lifted its position in shares of Universal Insurance by 11,666.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider's stock worth $1,193,000 after buying an additional 58,214 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Universal Insurance by 109.6% during the 1st quarter. Principal Financial Group Inc. now owns 22,484 shares of the insurance provider's stock worth $457,000 after buying an additional 11,758 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Universal Insurance by 31.7% during the 1st quarter. BNP Paribas Financial Markets now owns 19,875 shares of the insurance provider's stock worth $404,000 after buying an additional 4,781 shares in the last quarter. LSV Asset Management lifted its position in shares of Universal Insurance by 6.8% during the 1st quarter. LSV Asset Management now owns 313,902 shares of the insurance provider's stock worth $6,378,000 after buying an additional 19,900 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Universal Insurance by 8.2% during the 1st quarter. Empowered Funds LLC now owns 164,056 shares of the insurance provider's stock worth $3,334,000 after buying an additional 12,392 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.

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