Universal Insurance (UVE) Downgraded by ValuEngine

Universal Insurance (NYSE:UVE) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Keefe, Bruyette & Woods downgraded shares of Universal Insurance from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $39.00 to $44.00 in a report on Friday, July 27th.

Shares of UVE stock traded down $0.26 during mid-day trading on Thursday, hitting $41.72. The company had a trading volume of 568,909 shares, compared to its average volume of 242,712. Universal Insurance has a 52-week low of $22.95 and a 52-week high of $50.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 1.42. The company has a market capitalization of $1.51 billion, a PE ratio of 9.67 and a beta of 1.83.

Universal Insurance (NYSE:UVE) last released its earnings results on Monday, October 29th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Universal Insurance had a net margin of 19.77% and a return on equity of 33.17%. The firm had revenue of $206.16 million for the quarter.

In other news, insider Jon Springer sold 7,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $45.15, for a total value of $316,050.00. Following the transaction, the insider now owns 455,725 shares of the company’s stock, valued at $20,575,983.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $47.66, for a total transaction of $953,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,359,141 shares in the company, valued at approximately $64,776,660.06. The disclosure for this sale can be found here. Insiders sold 81,000 shares of company stock worth $3,725,490 in the last three months. Insiders own 10.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Universal Insurance in the second quarter worth $171,000. Trilogy Capital Inc. purchased a new stake in Universal Insurance during the third quarter valued at $276,000. 6 Meridian purchased a new stake in Universal Insurance during the second quarter valued at $208,000. Campbell & CO Investment Adviser LLC purchased a new stake in Universal Insurance during the second quarter valued at $226,000. Finally, Sun Life Financial INC purchased a new stake in Universal Insurance during the second quarter valued at $237,000. 73.52% 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. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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