Universal Insurance (NYSE:UVE) Upgraded by StockNews.com to Buy Rating

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

Universal Insurance Stock Performance

UVE traded up $0.24 during midday trading on Friday, reaching $21.72. The company's stock had a trading volume of 171,154 shares, compared to its average volume of 228,054. Universal Insurance has a twelve month low of $15.63 and a twelve month high of $23.27. 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 stock has a market cap of $614.46 million, a P/E ratio of 8.83 and a beta of 0.90. The company has a fifty day simple moving average of $20.57 and a 200 day simple moving average of $19.86.

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

Universal Insurance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.52 annualized dividend and a yield of 2.39%. Universal Insurance's dividend payout ratio (DPR) is currently 26.02%.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the transaction, the chairman now directly owns 1,082,262 shares of the company's stock, valued at approximately $24,318,427.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the 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 transaction, the chairman now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jon Springer sold 35,173 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.53, for a total transaction of $722,101.69. Following the completion of the sale, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,173 shares of company stock worth $1,575,702 over the last 90 days. Corporate insiders own 17.50% of the company's stock.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently bought and sold shares of the business. Quarry LP increased its holdings in shares of Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 1,129 shares in the last quarter. Covestor Ltd raised its position in shares of Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock worth $42,000 after acquiring an additional 1,328 shares during the last quarter. CWM LLC lifted its stake in shares of Universal Insurance by 40.1% during 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. Aigen Investment Management LP bought a new position in Universal Insurance in the third quarter valued at about $202,000. Finally, Occidental Asset Management LLC acquired a new stake in Universal Insurance in the second quarter worth about $196,000. 66.61% of the stock is currently owned by institutional investors.

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.