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

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

Universal Insurance Price Performance

UVE traded up $0.37 on Monday, reaching $19.87. The company had a trading volume of 107,147 shares, compared to its average volume of 120,372. The company has a market capitalization of $562.15 million, a P/E ratio of 8.08 and a beta of 0.93. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $20.93 and a 200-day moving average of $20.58. Universal Insurance has a one year low of $15.78 and a one year high of $23.39.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.30. The business had revenue of $387.55 million during the quarter, compared to analysts' expectations of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period last year, the firm posted ($0.16) earnings per share. As a group, equities research analysts anticipate that Universal Insurance will post 1.66 earnings per share for the current year.

Insider Activity

In related news, Chairman Sean P. Downes sold 15,064 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $22.46, for a total transaction of $338,337.44. Following the completion of the sale, the chairman now directly owns 1,047,198 shares of the company's stock, valued at $23,520,067.08. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jon Springer sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the sale, the director now owns 383,228 shares of the company's stock, valued at $7,905,993.64. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,064 shares of company stock worth $2,283,787 over the last 90 days. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Universal Insurance by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock worth $15,289,000 after purchasing an additional 49,123 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Universal Insurance by 100.0% during the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock valued at $12,017,000 after buying an additional 285,338 shares in the last quarter. Bank of Montreal Can raised its position in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider's stock valued at $7,040,000 after buying an additional 276,700 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock worth $7,698,000 after acquiring an additional 63,582 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Universal Insurance by 1.8% during the 2nd quarter. Marshall Wace LLP now owns 235,801 shares of the insurance provider's stock worth $4,424,000 after acquiring an additional 4,140 shares during the period. 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.

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