Universal Insurance (NYSE:UVE) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

Universal Insurance Stock Up 0.3 %

Shares of UVE opened at $20.05 on Tuesday. The stock has a market capitalization of $567.10 million, a PE ratio of 8.15 and a beta of 0.91. Universal Insurance has a 1 year low of $15.78 and a 1 year high of $23.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The company’s 50-day simple moving average is $20.45 and its 200-day simple moving average is $20.58.

Universal Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.19%. This is a boost from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s dividend payout ratio is currently 26.02%.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total transaction of $515,750.00. Following the sale, the director now directly owns 383,228 shares in the company, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 50,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 985,320 shares in the company, valued at $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,064 shares of company stock valued at $1,879,587. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Insurance

A number of large investors have recently made changes to their positions in the company. Quarry LP increased its stake in Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,129 shares during the last quarter. Covestor Ltd increased its stake in Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 1,328 shares during the last quarter. CWM LLC increased its stake in Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 723 shares during the last quarter. Aigen Investment Management LP purchased a new position in Universal Insurance in the third quarter valued at approximately $202,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Universal Insurance in the third quarter valued at approximately $206,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.