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 Friday morning.

Universal Insurance Stock Up 0.7 %

Shares of Universal Insurance stock traded up $0.14 during trading on Friday, hitting $20.46. 116,397 shares of the stock traded hands, compared to its average volume of 111,848. The firm has a market cap of $578.84 million, a P/E ratio of 8.32 and a beta of 0.91. 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 has a 52-week low of $16.50 and a 52-week high of $23.39. The stock's fifty day simple moving average is $20.14 and its 200 day simple moving average is $20.62.

Universal Insurance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 3.13%. This is a positive change from Universal Insurance's previous quarterly dividend of $0.13. Universal Insurance's dividend payout ratio (DPR) is currently 26.02%.

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 50,000 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the transaction, the chairman now directly owns 985,320 shares in the company, valued at approximately $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jon Springer sold 25,000 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the transaction, the director now owns 383,228 shares of the company's stock, valued at $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.50% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

A number of large investors have recently added to or reduced their stakes in the company. Man Group plc raised its holdings in Universal Insurance by 31.3% in the fourth quarter. Man Group plc now owns 71,313 shares of the insurance provider's stock worth $1,502,000 after purchasing an additional 17,020 shares in the last quarter. Millennium Management LLC raised its holdings in Universal Insurance by 120.6% in the fourth quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider's stock worth $2,666,000 after purchasing an additional 69,205 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Universal Insurance by 56.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock worth $121,000 after purchasing an additional 2,083 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Universal Insurance by 0.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 366,877 shares of the insurance provider's stock worth $7,726,000 after purchasing an additional 2,181 shares in the last quarter. Finally, Graham Capital Management L.P. raised its holdings in Universal Insurance by 69.8% in the fourth quarter. Graham Capital Management L.P. now owns 24,003 shares of the insurance provider's stock worth $506,000 after purchasing an additional 9,863 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

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.