Universal Insurance (NYSE:UVE) Stock Rating Lowered by StockNews.com

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

Universal Insurance Price Performance

NYSE UVE opened at $20.35 on Friday. The company has a 50 day simple moving average of $20.20 and a 200-day simple moving average of $20.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $575.70 million, a price-to-earnings ratio of 8.27 and a beta of 0.91. Universal Insurance has a 52-week low of $16.50 and a 52-week high of $23.39.

Insider Buying and Selling

In related news, Director Jon Springer sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the transaction, the director now owns 383,228 shares in the company, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 985,320 shares in the company, valued at $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds have recently added to or reduced their stakes in UVE. Covestor Ltd raised its position in shares of Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 1,328 shares during the period. Quarry LP raised its position in shares of Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 776 shares during the period. CWM LLC raised its position in shares of Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 723 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Universal Insurance in the fourth quarter valued at approximately $103,000. Finally, Quantbot Technologies LP raised its position in shares of Universal Insurance by 45,981.8% in the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 5,058 shares during the period. Institutional investors and hedge funds 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.