Universal Insurance (NYSE:UVE) Upgraded at StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a research note published on Monday morning.

Universal Insurance Trading Up 9.3 %

UVE stock opened at $22.41 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance has a twelve month low of $16.50 and a twelve month high of $23.39. The company has a market cap of $633.89 million, a P/E ratio of 9.11 and a beta of 0.91. The business has a fifty day moving average of $20.05 and a 200-day moving average of $20.69.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.16. The firm had revenue of $384.81 million during the quarter, compared to analysts’ expectations of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. As a group, equities research analysts expect that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be paid a $0.16 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Universal Insurance’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a yield of 2.86%. Universal Insurance’s dividend payout ratio (DPR) is presently 26.02%.

Insiders Place Their Bets

In related 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 transaction of $515,750.00. Following the transaction, the director now owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the transaction, the chairman now owns 985,320 shares of the company’s stock, valued at approximately $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in UVE. Geode Capital Management LLC raised its stake 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 buying an additional 49,123 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Universal Insurance by 100.0% in 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. Barclays PLC increased its holdings in shares of Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock worth $1,528,000 after acquiring an additional 28,278 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Universal Insurance during the third quarter worth about $636,000. Finally, Jane Street Group LLC lifted its holdings in shares of Universal Insurance by 2,142.1% during the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after purchasing an additional 57,108 shares in the last quarter. 66.61% of the stock is 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.