Wall Street Zen Upgrades Universal Insurance (NYSE:UVE) to Strong-Buy

Universal Insurance (NYSE:UVE) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other equities research analysts have also recently weighed in on UVE. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Universal Insurance Stock Performance

Shares of NYSE UVE opened at $31.20 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a 50 day moving average price of $31.19 and a 200 day moving average price of $27.40. The stock has a market capitalization of $875.13 million, a PE ratio of 7.36 and a beta of 0.74. Universal Insurance has a 52 week low of $18.72 and a 52 week high of $35.84.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.26. The company had revenue of $400.03 million during the quarter, compared to the consensus estimate of $366.36 million. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. Analysts predict that Universal Insurance will post 1.66 earnings per share for the current fiscal year.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $33.46, for a total transaction of $669,200.00. Following the sale, the chairman owned 1,263,512 shares in the company, valued at $42,277,111.52. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jon Springer sold 24,308 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $34.51, for a total transaction of $838,869.08. Following the completion of the transaction, the director owned 247,320 shares of the company’s stock, valued at approximately $8,535,013.20. This trade represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,743 shares of company stock worth $3,249,082 over the last ninety days. 17.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in Universal Insurance by 212.3% during the third quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock worth $15,685,000 after buying an additional 405,403 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Universal Insurance by 106.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 280,957 shares of the insurance provider’s stock worth $7,389,000 after acquiring an additional 144,553 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Universal Insurance by 43.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 454,496 shares of the insurance provider’s stock valued at $12,603,000 after purchasing an additional 138,732 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in Universal Insurance by 6.8% during the first quarter. Donald Smith & CO. Inc. now owns 1,836,718 shares of the insurance provider’s stock worth $43,530,000 after purchasing an additional 116,199 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Universal Insurance by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,953,721 shares of the insurance provider’s stock worth $51,383,000 after purchasing an additional 108,660 shares in the last quarter. 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.