upgrades Universal Insurance (NYSE:UVE) to Buy upgrades Universal Insurance (NYSE:UVE) to Buy

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

Universal insurance price performance

Universal Insurance stock opened at $12.62 on Friday. The company has a debt to equity ratio of 0.28, a quick 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 price is $12.45 and its 200-day moving average price 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. Downes sold 20,000 shares of the company’s shares in a transaction on Friday, June 24. The stock sold at an average price of $12.93 for a total transaction of $258,600.00. Upon completion of the sale, the Director now owns 1,401,539 shares of the Company, valued at $18,121,899.27. The sale was disclosed in a filing with the Securities & Exchange Commission available at this link. Company insiders own 17.00% of the Company’s stock.

Hedge funds rely on Universal Insurance

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Institutional investors recently changed their holdings in the company. invesco ltd increased its stake in Universal Insurance by 139.8% in the fourth quarter. invesco ltd now owns 910,126 shares of the insurance provider, valued at $15,473,000, after purchasing an additional 530,611 shares last quarter. State Street Corp increased its stake in Universal Insurance by 22.4% in the first quarter. State Street Corp now owns 1,201,489 shares of the insurance provider worth $16,208,000 after purchasing an additional 219,723 shares last quarter. Hillsdale Investment Management Inc. acquired a new interest in Universal Insurance stock valued at approximately $3,431,000 during the fourth quarter. Dimensional Fund Advisors LP increased its holding in Universal Insurance by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,726,844 shares of the insurance provider worth $23,295,000 after purchasing an additional 142,189 shares during the period. Finally, Renaissance Technologies LLC acquired a new interest in Universal Insurance in the first quarter for $1,874,000. 65.84% of the shares are owned by institutional investors.

Universal insurance profile

(received 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 homeowners insurance such as homeowner, renter/tenant, condominium owner and apartment/fire; and provides allied lines, coverage for other structures, and coverage for personal property, liability, and personal items.

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