Wall Street Zen Upgrades Universal Insurance (NYSE:UVE) to “Strong-Buy”

Universal Insurance (NYSE:UVE) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Universal Insurance presently has a consensus rating of “Strong Buy”.

Universal Insurance Stock Performance

NYSE UVE opened at $31.20 on Friday. The firm has a market capitalization of $875.13 million, a P/E ratio of 7.36 and a beta of 0.74. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $31.19 and its two-hundred day moving average price is $27.38. Universal Insurance has a 1 year low of $18.72 and a 1 year high of $35.84.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.26. The company had revenue of $400.03 million for the quarter, compared to analyst estimates of $366.36 million. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. As a group, research analysts anticipate that Universal Insurance will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $33.46, for a total transaction of $669,200.00. Following the completion of the sale, the chairman owned 1,263,512 shares of the company’s stock, valued at approximately $42,277,111.52. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jon Springer sold 35,435 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $31.41, for a total transaction of $1,113,013.35. Following the completion of the sale, the director directly owned 271,628 shares of the company’s stock, valued at approximately $8,531,835.48. The trade was a 11.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 99,743 shares of company stock worth $3,249,082. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC boosted its stake in shares of Universal Insurance by 42.9% in the first quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider’s stock valued at $1,040,000 after buying an additional 13,177 shares during the period. Informed Momentum Co LLC bought a new position in Universal Insurance during the 1st quarter worth $855,000. Hsbc Holdings PLC acquired a new position in Universal Insurance in the 1st quarter valued at $487,000. Nuveen LLC bought a new stake in shares of Universal Insurance during the 1st quarter valued at $2,197,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Universal Insurance by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 255,200 shares of the insurance provider’s stock valued at $7,077,000 after acquiring an additional 9,046 shares during the period. 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.