Universal Insurance (NYSE:UVE) Rating Increased to Strong-Buy at StockNews.com

Universal Insurance (NYSE:UVE) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Universal Insurance Trading Up 1.4 %

Shares of Universal Insurance stock traded up $0.28 on Monday, hitting $19.87. 203,180 shares of the company traded hands, compared to its average volume of 123,682. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a market cap of $562.04 million, a PE ratio of 8.08 and a beta of 0.91. The stock’s 50 day moving average price is $20.02 and its 200-day moving average price is $20.67. Universal Insurance has a 52 week low of $16.50 and a 52 week high of $23.39.

Insider Activity

In other news, Director Jon Springer sold 25,000 shares of the business’s stock in a transaction 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 directly owns 383,228 shares of the company’s stock, valued at approximately $7,905,993.64. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the completion of the transaction, the chairman now owns 985,320 shares of the company’s stock, valued at $20,208,913.20. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

A number of large investors have recently made changes to their positions in UVE. CWM LLC boosted its position in shares of Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 723 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Universal Insurance by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider’s stock worth $291,000 after acquiring an additional 732 shares in the last quarter. Quarry LP boosted its holdings in Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 776 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Universal Insurance by 12.0% during the fourth quarter. EP Wealth Advisors LLC now owns 12,189 shares of the insurance provider’s stock worth $257,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 1,328 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Company Profile

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.