Universal Insurance (UVE) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a research report released on Tuesday.

Separately, Keefe, Bruyette & Woods set a $32.00 price objective on shares of Universal Insurance and gave the stock a buy rating in a report on Monday, January 15th.

Shares of Universal Insurance (NYSE:UVE) opened at $32.75 on Tuesday. The stock has a market cap of $1,140.02, a price-to-earnings ratio of 10.95 and a beta of 1.85. Universal Insurance has a fifty-two week low of $15.07 and a fifty-two week high of $33.20. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.03.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Wednesday, February 28th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, February 27th. Universal Insurance’s dividend payout ratio is presently 18.73%.

In related news, Director Scott P. Callahan sold 2,600 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $30.53, for a total value of $79,378.00. Following the completion of the sale, the director now directly owns 8,536 shares in the company, valued at $260,604.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Universal Insurance during the third quarter valued at about $100,000. Advisor Group Inc. boosted its holdings in Universal Insurance by 75.6% during the fourth quarter. Advisor Group Inc. now owns 7,717 shares of the insurance provider’s stock valued at $211,000 after acquiring an additional 3,323 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Universal Insurance during the fourth quarter valued at about $224,000. Koch Industries Inc. bought a new stake in Universal Insurance during the fourth quarter valued at about $227,000. Finally, Aperio Group LLC bought a new stake in Universal Insurance during the fourth quarter valued at about $261,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

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About Universal Insurance

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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