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 report report published on Monday morning.

Universal Insurance Price Performance

Shares of UVE opened at $19.73 on Monday. The company has a market capitalization of $558.27 million, a P/E ratio of 8.02 and a beta of 0.93. Universal Insurance has a twelve month low of $15.78 and a twelve month high of $23.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $20.82 and a 200 day moving average of $20.59.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, December 6th. Universal Insurance’s payout ratio is currently 26.02%.

Insider Buying and Selling

In other news, Director Jon Springer sold 25,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the transaction, the director now directly owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This represents a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the sale, the chairman now directly owns 985,320 shares of the company’s stock, valued at $20,208,913.20. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,064 shares of company stock worth $1,879,587. 17.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UVE. Quarry LP increased its position in shares of Universal Insurance by 424.4% during the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,129 shares during the last quarter. Covestor Ltd grew its position in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after buying an additional 1,328 shares during the period. CWM LLC increased its holdings in Universal Insurance by 40.1% during the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after buying an additional 723 shares during the last quarter. Aigen Investment Management LP bought a new position in Universal Insurance in the third quarter worth approximately $202,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Universal Insurance during the 3rd quarter worth $206,000. Institutional investors own 66.61% of the company’s stock.

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.