ValuEngine upgraded shares of Universal Insurance Holdings Inc (NYSE:UVE) from a buy rating to a strong-buy rating in a research note published on Friday.

Several other equities research analysts have also issued reports on UVE. BidaskClub lowered shares of Universal Insurance Holdings from a hold rating to a sell rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a buy rating and set a $29.00 target price on shares of Universal Insurance Holdings in a research report on Friday, August 18th.

Universal Insurance Holdings (NYSE UVE) traded down 0.22% during trading on Friday, reaching $23.20. 173,961 shares of the company were exchanged. Universal Insurance Holdings has a one year low of $15.08 and a one year high of $29.20. The firm’s 50-day moving average is $21.57 and its 200 day moving average is $23.65. The company has a market capitalization of $808.43 million, a P/E ratio of 8.22 and a beta of 1.83.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, September 12th will be issued a $0.14 dividend. The ex-dividend date is Monday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.41%. Universal Insurance Holdings’s payout ratio is 19.93%.

In other Universal Insurance Holdings news, CFO Frank Wilcox acquired 2,000 shares of the stock in a transaction dated Friday, September 8th. The stock was purchased at an average cost of $17.69 per share, for a total transaction of $35,380.00. Following the acquisition, the chief financial officer now owns 96,024 shares in the company, valued at approximately $1,698,664.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Frontier Investment Mgmt Co. lifted its holdings in shares of Universal Insurance Holdings by 5.0% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 156,300 shares of the insurance provider’s stock worth $3,939,000 after acquiring an additional 7,500 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Universal Insurance Holdings in the 2nd quarter worth approximately $125,000. State Street Corp lifted its holdings in shares of Universal Insurance Holdings by 4.6% in the 2nd quarter. State Street Corp now owns 807,769 shares of the insurance provider’s stock worth $20,353,000 after acquiring an additional 35,363 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Universal Insurance Holdings by 3.1% in the 2nd quarter. Royal Bank of Canada now owns 97,492 shares of the insurance provider’s stock worth $2,457,000 after acquiring an additional 2,907 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Universal Insurance Holdings in the 2nd quarter worth approximately $265,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

About Universal Insurance Holdings

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

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