upgrades Universal Insurance (NYSE:UVE) to Buy 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 note issued to clients and investors on Saturday.

Universal insurance price

Shares of Universal Insurance 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 is $12.45 and its two-hundred-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 are placing their bets

In related news, Director Sean P. Downes 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 Securities and Exchange Commission filing available at this link. Corporate persons own 17.00% of the company’s shares.

Hedge funds have an impact on universal insurance

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

Profile of a universal insurance company

(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 provides insurance products for personal residence insurance such as homeowners, renters/tenants, condo owners and condo/fire; and offers allied lines, coverage for other structures, and coverage for personal property, liability and personal effects.

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