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 note issued to investors on Saturday morning.

Other analysts also recently issued research reports about the stock. Piper Sandler reissued an overweight rating and set a $25.00 target price on shares of Universal Insurance in a research report on Monday, April 1st. TheStreet raised shares of Universal Insurance from a c+ rating to a b rating in a report on Monday, February 26th.

Universal Insurance Trading Up 1.3 %

Shares of NYSE:UVE opened at $20.06 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $577.73 million, a PE ratio of 7.87 and a beta of 0.84. Universal Insurance has a 12-month low of $11.15 and a 12-month high of $22.38. The business’s fifty day simple moving average is $19.72 and its 200-day simple moving average is $17.59.

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

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 3.19%. Universal Insurance’s payout ratio is 25.10%.

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total value of $394,400.00. Following the sale, the chairman now directly owns 1,162,262 shares of the company’s stock, valued at $22,919,806.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UVE. Donald Smith & CO. Inc. increased its position in shares of Universal Insurance by 31.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider’s stock worth $27,201,000 after purchasing an additional 404,446 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Universal Insurance in the 3rd quarter valued at about $7,935,000. Jacobs Levy Equity Management Inc. lifted its position in Universal Insurance by 0.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock worth $6,081,000 after buying an additional 2,175 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Universal Insurance in the 4th quarter valued at $6,387,000. Finally, Acadian Asset Management LLC increased its stake in shares of Universal Insurance by 250.2% in the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock worth $4,765,000 after acquiring an additional 242,895 shares during the last quarter. 66.61% of the stock is owned by hedge funds and other 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.