Universal Insurance (NYSE:UVE) Upgraded at StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a report released on Monday morning.

Universal Insurance Trading Down 0.6 %

NYSE:UVE opened at $19.73 on Monday. The firm has a market capitalization of $558.27 million, a P/E ratio of 8.02 and a beta of 0.93. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $20.82 and a 200 day moving average of $20.59. Universal Insurance has a 52 week low of $15.78 and a 52 week high of $23.39.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, December 6th. Universal Insurance’s payout ratio is 26.02%.

Insider Transactions at Universal Insurance

In other 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 completion of the transaction, the director now owns 383,228 shares of the company’s stock, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 15,064 shares of Universal Insurance stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $22.46, for a total value of $338,337.44. Following the sale, the chairman now owns 1,047,198 shares in the company, valued at $23,520,067.08. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,064 shares of company stock worth $1,879,587. 17.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Universal Insurance by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after buying an additional 49,123 shares during the period. CWA Asset Management Group LLC grew its holdings in Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after purchasing an additional 285,338 shares during the period. Bank of Montreal Can grew its holdings in Universal Insurance by 283.0% in the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock worth $7,040,000 after purchasing an additional 276,700 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Universal Insurance by 22.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after purchasing an additional 63,582 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Universal Insurance by 1.8% during the second quarter. Marshall Wace LLP now owns 235,801 shares of the insurance provider’s stock valued at $4,424,000 after purchasing an additional 4,140 shares during 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.