Universal Insurance Holdings Inc (UVE) Upgraded to “Strong-Buy” by ValuEngine
Universal Insurance Holdings Inc (NYSE:UVE) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Several other analysts have also recently commented on UVE. BidaskClub cut Universal Insurance Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “buy” rating and set a $29.00 target price on shares of Universal Insurance Holdings in a report on Friday, August 18th.
Shares of Universal Insurance Holdings (UVE) traded down 0.22% during trading on Friday, hitting $23.20. 173,961 shares of the stock traded hands. Universal Insurance Holdings has a 52 week low of $15.08 and a 52 week high of $29.20. The firm’s 50-day moving average price is $21.57 and its 200-day moving average price is $23.65. The company has a market cap of $808.43 million, a price-to-earnings ratio of 8.22 and a beta of 1.83.
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In other news, CFO Frank Wilcox purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average price of $17.69 per share, for a total transaction of $35,380.00. Following the completion of the acquisition, the chief financial officer now directly owns 96,024 shares in the company, valued at $1,698,664.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. boosted its holdings in Universal Insurance Holdings by 0.7% in the second quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 30 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Universal Insurance Holdings by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock valued at $118,000 after buying an additional 703 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Universal Insurance Holdings in the second quarter valued at about $125,000. Envestnet Asset Management Inc. lifted its stake in Universal Insurance Holdings by 7.8% in the first quarter. Envestnet Asset Management Inc. now owns 5,159 shares of the insurance provider’s stock valued at $126,000 after buying an additional 372 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Universal Insurance Holdings by 77.7% in the second quarter. State of Alaska Department of Revenue now owns 6,414 shares of the insurance provider’s stock valued at $161,000 after buying an additional 2,804 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.
About Universal Insurance Holdings
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).
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