Thursday, December 1 2022

Universal Insurance (NYSE:UVE – Get an Assessment) was downgraded by StockNews.com investment analysts from a “buy” rating to a “hold” rating in a research report released on Tuesday.

Several other research analysts have also recently commented on the company. Piper Sandler reduced her price target on Universal Insurance to $10.00 in a Tuesday, Nov. 1, research note. TheStreet downgraded Universal Insurance from a “c-” rating to a “d+” rating in a Thursday, October 27 research note.

Universal insurance stock up 0.7%

NYSE UVE opened at $10.36 on Tuesday. The company has a fifty-day moving average price of $10.42 and a 200-day moving average price of $11.75. Universal Insurance has a one-year minimum of $8.39 and a one-year maximum of $19.64. The company has a debt ratio of 0.40, a quick ratio of 0.56 and a current ratio of 0.69. The company has a market capitalization of $316.11 million, a P/E ratio of -3.34 and a beta of 0.98.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Director Sean P. Downes sold 20,000 shares of the company in a trade on Wednesday, August 10. The stock was sold at an average price of $12.46, for a total value of $249,200.00. Following the completion of the sale, the administrator now directly owns 1,381,539 shares of the company, valued at approximately $17,213,975.94. The sale was disclosed in a document filed with the SEC, accessible via this link. In other Universal Insurance news, CEO Stephen Donaghy bought 10,000 shares of the company in a trade dated Wednesday, September 14. The shares were acquired at an average price of $11.55 per share, with a total value of $115,500.00. Following the purchase, the CEO now directly owns 660,887 shares of the company, valued at approximately $7,633,244.85. The purchase was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, director Sean P. Downes sold 20,000 shares of the company in a trade on Wednesday, August 10. The shares were sold at an average price of $12.46, for a total value of $249,200.00. Following completion of the transaction, the administrator now directly owns 1,381,539 shares of the company, valued at approximately $17,213,975.94. The disclosure of this sale can be found here. Insiders have purchased a total of 15,500 shares of the company worth $169,635 over the past three months. 16.10% of the shares are held by company insiders.

Hedge funds weigh on universal insurance

Major investors have recently changed their stake in the company. Whittier Trust Co. acquired a new position in shares of Universal Insurance in Q2 worth $26,000. KBC Group NV acquired in the 2nd quarter a new position in Universal Insurance shares worth $26,000. Allspring Global Investments Holdings LLC increased its stake in Universal Insurance shares by 137.4% in Q3. Allspring Global Investments Holdings LLC now owns 3,943 shares of the insurance provider valued at $38,000 after buying 2,282 additional shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Universal Insurance in Q1 worth $58,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Universal Insurance in Q3 worth $97,000. Institutional investors and hedge funds own 66.64% of the company’s shares.

Universal Insurance Company Profile

(Get an assessment)

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 residential insurance, such as homeowners, renters/tenants, owners of condominium units and homes/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal items coverage.

Featured Articles

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider universal insurance, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Universal Insurance wasn’t on the list.

While Universal Insurance currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Previous

Woman found dead in Plainwell flat fire

Next

New California law requires low-income rental property owners to allow pets

Check Also