StockNews.com Downgrades Universal Insurance (NYSE:UVE) to Buy

StockNews.com downgraded shares of Universal Insurance (NYSE:UVE - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Universal Insurance Stock Performance

UVE stock traded down $0.14 during mid-day trading on Tuesday, hitting $19.90. 130,178 shares of the company were exchanged, compared to its average volume of 121,011. Universal Insurance has a 1-year low of $15.78 and a 1-year high of $23.39. The stock has a market capitalization of $562.83 million, a PE ratio of 8.09 and a beta of 0.91. The business has a 50 day simple moving average of $20.39 and a 200-day simple moving average of $20.59. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 7th. Universal Insurance's dividend payout ratio is currently 26.02%.

Insiders Place Their Bets

In other news, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction that occurred on 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 directly owns 383,228 shares in the company, valued at approximately $7,905,993.64. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the sale, the chairman now directly owns 985,320 shares in the company, valued at $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,064 shares of company stock worth $1,879,587 in the last 90 days. Company insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Universal Insurance by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock valued at $15,289,000 after purchasing an additional 49,123 shares in the last quarter. CWA Asset Management Group LLC raised its stake in 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 worth $12,017,000 after acquiring an additional 285,338 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Universal Insurance by 22.4% in the third 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 during the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of Universal Insurance by 64.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider's stock valued at $4,468,000 after purchasing an additional 79,138 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Universal Insurance by 16.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,232 shares of the insurance provider's stock valued at $3,861,000 after purchasing an additional 24,919 shares during the last quarter. Institutional investors and hedge funds 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.