Universal Insurance (NYSE:UVE) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a report published on Saturday.

A number of other equities analysts have also commented on UVE. Piper Sandler lifted their price target on shares of Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Friday, July 17th. Finally, Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.00.

Universal Insurance Stock Performance

Shares of NYSE UVE opened at $43.53 on Friday. The business’s 50-day simple moving average is $39.66 and its 200-day simple moving average is $36.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.51 and a current ratio of 0.57. Universal Insurance has a 52 week low of $22.87 and a 52 week high of $45.15. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 5.74 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.27. The firm had revenue of $419.38 million during the quarter, compared to analyst estimates of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. As a group, equities research analysts expect that Universal Insurance will post 4.85 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 31st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.5%. Universal Insurance’s payout ratio is currently 8.44%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the transaction, the chairman directly owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its stake in shares of Universal Insurance by 212.3% in the 3rd quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock valued at $15,685,000 after purchasing an additional 405,403 shares during the period. BNP Paribas Financial Markets raised its holdings 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 buying an additional 144,553 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Universal Insurance by 19.8% during the 4th quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider’s stock worth $27,566,000 after buying an additional 134,805 shares during the period. Informed Momentum Co LLC bought a new position in shares of Universal Insurance during the 4th quarter worth approximately $4,481,000. Finally, Vanguard Group Inc. boosted its stake 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 valued at $51,383,000 after buying an additional 108,660 shares in the last quarter. Institutional investors own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.