Universal Insurance (NYSE:UVE) Rating Increased to Strong-Buy at StockNews.com

Universal Insurance (NYSE:UVE) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on UVE. TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a research report on Monday, April 1st.

Universal Insurance Price Performance

Universal Insurance stock opened at $19.81 on Friday. The business’s fifty day moving average is $19.72 and its two-hundred day moving average is $17.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.53 and a current ratio of 0.44. The firm has a market cap of $569.74 million, a P/E ratio of 7.77 and a beta of 0.84. Universal Insurance has a 52 week low of $11.15 and a 52 week high of $22.38.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $375.46 million for the quarter, compared to the consensus estimate of $328.12 million. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. Equities research analysts forecast that Universal Insurance will post 2.3 earnings per share for the current fiscal year.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total transaction of $394,400.00. Following the completion of the transaction, the chairman now directly owns 1,162,262 shares in the company, valued at approximately $22,919,806.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Several institutional investors have recently modified their holdings of UVE. SG Americas Securities LLC bought a new position in shares of Universal Insurance during the 3rd quarter valued at about $201,000. Teacher Retirement System of Texas lifted its holdings in shares of Universal Insurance by 14.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 73,185 shares of the insurance provider’s stock valued at $1,026,000 after purchasing an additional 9,093 shares in the last quarter. Olympiad Research LP bought a new position in shares of Universal Insurance during the 3rd quarter valued at about $174,000. Islay Capital Management LLC lifted its holdings in shares of Universal Insurance by 24.1% during the 3rd quarter. Islay Capital Management LLC now owns 54,858 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 10,651 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Universal Insurance during the 3rd quarter valued at about $140,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

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.