Universal Insurance (NYSE:UVE) Raised to “Strong-Buy” at StockNews.com

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

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $19.82 on Monday. The company has a market cap of $560.66 million, a PE ratio of 8.06 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. Universal Insurance has a 52 week low of $15.78 and a 52 week high of $23.39. The business has a 50 day moving average price of $20.88 and a 200-day moving average price of $20.59.

Insider Activity

In other news, Director Jon Springer sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the completion of the sale, the chairman now directly owns 1,062,262 shares in the company, valued at approximately $21,468,315.02. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,064 shares of company stock worth $2,283,787 over the last quarter. Insiders own 17.50% of the company’s stock.

Institutional Trading of Universal Insurance

A number of large investors have recently bought and sold shares of the company. CWA Asset Management Group LLC raised its holdings in Universal Insurance by 100.0% during the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after acquiring an additional 285,338 shares during the period. Bank of Montreal Can grew its stake in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after acquiring an additional 276,700 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in Universal Insurance by 64.6% during the 3rd quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock worth $4,468,000 after acquiring an additional 79,138 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Universal Insurance by 22.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock worth $7,698,000 after acquiring an additional 63,582 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Universal Insurance by 80.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock worth $2,946,000 after purchasing an additional 59,290 shares in the last quarter. 66.61% of the stock is 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.