Universal Insurance (NYSE:UVE) Downgraded by StockNews.com to “Buy”

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

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

Universal Insurance Stock Down 3.7 %

Shares of NYSE UVE opened at $19.54 on Friday. The firm has a market cap of $566.07 million, a price-to-earnings ratio of 7.66 and a beta of 0.83. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. Universal Insurance has a 52-week low of $11.15 and a 52-week high of $22.38. The business’s 50 day moving average is $19.51 and its two-hundred day moving average is $17.25.

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

Universal Insurance Announces Dividend

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

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were 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 owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Institutional investors and hedge funds have recently modified their holdings of the company. AJOVista LLC acquired a new position in shares of Universal Insurance during the fourth quarter worth $25,000. Versor Investments LP acquired a new position in shares of Universal Insurance during the third quarter worth $140,000. Tompkins Financial Corp acquired a new position in shares of Universal Insurance during the third quarter worth $153,000. Laurion Capital Management LP acquired a new position in shares of Universal Insurance during the third quarter worth $154,000. Finally, Olympiad Research LP acquired a new position in Universal Insurance in the third quarter valued at $174,000. 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.