Universal Insurance (NYSE:UVE) Downgraded to “Buy” Rating by Wall Street Zen

Universal Insurance (NYSE:UVE) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other brokerages have also recently weighed in on UVE. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, October 8th. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Universal Insurance Stock Up 1.0%

UVE opened at $33.09 on Friday. The stock has a market capitalization of $928.17 million, a price-to-earnings ratio of 7.80 and a beta of 0.74. The business has a 50-day moving average of $31.75 and a two-hundred day moving average of $27.59. Universal Insurance has a 12 month low of $18.72 and a 12 month high of $35.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.55.

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

Insider Buying and Selling

In other Universal Insurance news, Director Jon Springer sold 35,435 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $31.41, for a total value of $1,113,013.35. Following the completion of the transaction, the director owned 271,628 shares of the company’s stock, valued at $8,531,835.48. This represents a 11.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $33.46, for a total transaction of $669,200.00. Following the completion of the transaction, the chairman owned 1,263,512 shares of the company’s stock, valued at approximately $42,277,111.52. This represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 99,743 shares of company stock valued at $3,249,082. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of Universal Insurance

Large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of Universal Insurance by 12.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 371,982 shares of the insurance provider’s stock worth $9,783,000 after buying an additional 41,830 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Universal Insurance by 12.7% during the third quarter. Qube Research & Technologies Ltd now owns 131,777 shares of the insurance provider’s stock worth $3,466,000 after acquiring an additional 14,875 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Universal Insurance by 14.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,161 shares of the insurance provider’s stock valued at $609,000 after buying an additional 2,980 shares in the last quarter. Millennium Management LLC raised its stake in Universal Insurance by 212.3% in the 3rd quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock worth $15,685,000 after purchasing an additional 405,403 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Universal Insurance by 1.9% in the 3rd quarter. Bank of America Corp DE now owns 102,196 shares of the insurance provider’s stock valued at $2,688,000 after acquiring an additional 1,931 shares in the last quarter. 66.61% of the stock is 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.