Universal Insurance (NYSE:UVE) Earns Buy (B) Rating from Weiss Ratings

Universal Insurance (NYSE:UVE)‘s stock had its “buy (b)” rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Universal Insurance presently has an average rating of “Buy”.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $29.68 on Wednesday. The company has a market capitalization of $840.51 million, a PE ratio of 12.96 and a beta of 0.79. Universal Insurance has a 12 month low of $18.39 and a 12 month high of $30.48. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $25.19 and its 200 day simple moving average is $25.08.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.09 by $0.14. Universal Insurance had a return on equity of 15.37% and a net margin of 4.24%.The business had revenue of $596.72 million for the quarter, compared to the consensus estimate of $359.98 million. On average, research analysts predict that Universal Insurance will post 1.66 EPS for the current year.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.35, for a total value of $507,000.00. Following the completion of the transaction, the chairman owned 1,303,512 shares in the company, valued at $33,044,029.20. This trade represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Insurance

Several hedge funds have recently modified their holdings of UVE. GAMMA Investing LLC grew its holdings in Universal Insurance by 3,499.2% during the first quarter. GAMMA Investing LLC now owns 17,348 shares of the insurance provider’s stock worth $411,000 after purchasing an additional 16,866 shares during the period. SG Americas Securities LLC grew its holdings in Universal Insurance by 19.3% during the first quarter. SG Americas Securities LLC now owns 17,658 shares of the insurance provider’s stock worth $418,000 after purchasing an additional 2,851 shares during the period. Principal Financial Group Inc. grew its holdings in Universal Insurance by 2.7% during the first quarter. Principal Financial Group Inc. now owns 25,064 shares of the insurance provider’s stock worth $594,000 after purchasing an additional 649 shares during the period. Leavell Investment Management Inc. bought a new position in Universal Insurance during the first quarter worth about $251,000. Finally, Victory Capital Management Inc. grew its holdings in Universal Insurance by 4.9% during the first quarter. Victory Capital Management Inc. now owns 11,971 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 563 shares during the period. Institutional investors 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.