upgrades Universal Insurance (NYSE:UVE) to Buy

Universal Insurance (NYSE:UVE – Get Rating) was upgraded by from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Universal Insurance Price Efficiency

Shares of Universal Insurance stock opened at $12.62 on Friday. The company has a debt-to-equity ratio of 0.28, a quick earnings ratio of 0.38, and a current ratio of 0.56. The stock has a market cap of $387.64 million, a price-to-earnings ratio of -126.20 and a beta of 0.97. The stock’s 50-day moving average is $12.45, and the 200-day moving average is $13.13. Universal Insurance has a 52-week low of $11.27 and a 52-week high of $19.64.

Insiders place their bets

In related news, Director Sean P. Downs sold 20,000 shares of the company’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $12.93, for a total transaction of $258,600.00. Following the completion of the sale, the director now owns 1,401,539 shares in the company, valued at $18,121,899.27. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Corporate insiders own 17.00% of the company’s shares.

Hedge funds weigh universal insurance

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Institutional investors have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in Universal Insurance by 139.8% in the fourth quarter. Invesco Ltd. now owns 910,126 shares of the insurance provider’s stock valued at $15,473,000 after buying an additional 530,611 shares during the last quarter. State Street Corp boosted its stake in shares of Universal Insurance by 22.4% in the first quarter. State Street Corp now owns 1,201,489 shares of the insurance provider’s stock valued at $16,208,000 after purchasing an additional 219,723 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Universal Insurance during the 4th quarter valued at approximately $3,431,000. Dimensional Fund Advisors LP boosted its holdings in Universal Insurance by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,726,844 shares of the insurance provider’s stock valued at $23,295,000 after purchasing an additional 142,189 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Universal Insurance in the first quarter valued at $1,874,000. 65.84% of the shares are owned by institutional investors.

Universal Insurance Company Profile

(Get Rating)

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets and underwrites insurance products for personal home insurance, such as homeowners, renters/tenants, condo owners and home/fire; and offers allied lines, other structure coverage, and personal property, liability, and personal items coverage.

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