Universal Insurance (NYSE:UVE) Downgraded by StockNews.com

StockNews.com downgraded shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a research note released on Friday.

Other research analysts have also recently issued reports about the company. Piper Sandler restated an overweight rating and issued a $25.00 price objective on shares of Universal Insurance in a research note on Monday, April 1st. TheStreet upgraded Universal Insurance from a c+ rating to a b rating in a research note on Monday, February 26th.

Universal Insurance Trading Down 3.7 %

Universal Insurance stock opened at $19.54 on Friday. The stock has a 50-day moving average of $19.55 and a two-hundred day moving average of $17.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.53 and a current ratio of 0.53. Universal Insurance has a one year low of $11.15 and a one year high of $22.38. The stock has a market cap of $566.07 million, a PE ratio of 7.66 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 20.25% and a net margin of 5.29%. The company had revenue of $375.46 million during the quarter, compared to analysts’ expectations of $328.12 million. On average, research analysts anticipate that Universal Insurance will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s payout ratio is 25.10%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total transaction of $390,600.00. Following the completion of the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 17.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Universal Insurance in the fourth quarter valued at approximately $6,387,000. Acadian Asset Management LLC grew its holdings in Universal Insurance by 250.2% in the third quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock valued at $4,765,000 after purchasing an additional 242,895 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Universal Insurance by 0.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock valued at $6,081,000 after purchasing an additional 2,175 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Universal Insurance in the fourth quarter valued at approximately $473,000. Finally, GSA Capital Partners LLP grew its holdings in Universal Insurance by 94.8% in the third quarter. GSA Capital Partners LLP now owns 173,801 shares of the insurance provider’s stock valued at $2,437,000 after purchasing an additional 84,573 shares during the period. 66.61% of the stock is currently owned by hedge funds and other 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.