Universal Insurance (NYSE:UVE – Get Rating) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.
Other analysts have also issued reports about the company. Piper Sandler boosted their target price on Universal Insurance from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, April 4th. TheStreet upgraded Universal Insurance from a “d+” rating to a “c-” rating in a research note on Wednesday, January 25th.
Universal Insurance Stock Performance
Shares of Universal Insurance stock opened at $19.32 on Wednesday. The business’s fifty day simple moving average is $17.07 and its 200 day simple moving average is $12.92. The firm has a market capitalization of $587.91 million, a P/E ratio of -26.11 and a beta of 0.92. Universal Insurance has a 12 month low of $8.39 and a 12 month high of $19.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.36.
Insider Activity
In other news, Director Sean P. Downes sold 10,000 shares of Universal Insurance stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $18.83, for a total value of $188,300.00. Following the completion of the transaction, the director now directly owns 1,348,209 shares in the company, valued at $25,386,775.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 16.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Universal Insurance
Several hedge funds have recently made changes to their positions in UVE. Advisor Group Holdings Inc. grew its position in Universal Insurance by 36.2% during the first quarter. Advisor Group Holdings Inc. now owns 30,515 shares of the insurance provider’s stock worth $411,000 after buying an additional 8,118 shares in the last quarter. Swiss National Bank lifted its position in Universal Insurance by 7.3% during the first quarter. Swiss National Bank now owns 66,400 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 4,500 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Universal Insurance by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 412,217 shares of the insurance provider’s stock valued at $5,561,000 after purchasing an additional 11,696 shares during the last quarter. Citigroup Inc. lifted its position in Universal Insurance by 13.9% during the first quarter. Citigroup Inc. now owns 25,660 shares of the insurance provider’s stock valued at $346,000 after purchasing an additional 3,126 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Universal Insurance by 55.1% during the first quarter. MetLife Investment Management LLC now owns 14,719 shares of the insurance provider’s stock valued at $199,000 after purchasing an additional 5,231 shares during the last quarter. 66.85% of the stock is currently owned by hedge funds and other institutional investors.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc engages in offering property and casualty insurance and value-added insurance services. It develops, markets and underwrites insurance products for consumers in the personal residential homeowner’s lines of business and perform substantially all other insurance-related services for primary insurance entities, including risk management, claims management, and distribution.