Zacks: Universal Insurance Holdings, Inc. (NYSE:UVE) Receives Average Recommendation of “Hold” from Brokerages

Share on StockTwits

Universal Insurance Holdings, Inc. (NYSE:UVE) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Zacks has also assigned Universal Insurance an industry rank of 63 out of 256 based on the ratings given to its competitors.

In related news, CEO Sean P. Downes acquired 3,000 shares of the stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $28.91 per share, for a total transaction of $86,730.00. Following the transaction, the chief executive officer now owns 1,430,733 shares in the company, valued at approximately $41,362,491.03. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sean P. Downes bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average price of $28.89 per share, for a total transaction of $72,225.00. Following the transaction, the chief executive officer now directly owns 1,427,733 shares in the company, valued at $41,247,206.37. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 15,500 shares of company stock worth $443,955. Corporate insiders own 11.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of Universal Insurance by 3.4% in the 4th quarter. Raymond James & Associates now owns 8,799 shares of the insurance provider’s stock valued at $334,000 after buying an additional 287 shares during the period. Advisors Asset Management Inc. raised its position in shares of Universal Insurance by 11.0% during the 1st quarter. Advisors Asset Management Inc. now owns 4,124 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 409 shares in the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of Universal Insurance by 6.0% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,101 shares of the insurance provider’s stock worth $251,000 after acquiring an additional 460 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Universal Insurance by 1.2% during the 4th quarter. Macquarie Group Ltd. now owns 41,800 shares of the insurance provider’s stock worth $1,585,000 after acquiring an additional 500 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Universal Insurance by 1.7% during the 1st quarter. Comerica Bank now owns 31,765 shares of the insurance provider’s stock worth $980,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 73.32% of the company’s stock.

Universal Insurance stock opened at $26.49 on Friday. The company has a market capitalization of $867.93 million, a PE ratio of 7.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.57 and a current ratio of 0.69. Universal Insurance has a 1 year low of $24.79 and a 1 year high of $50.50. The firm’s 50 day moving average is $27.44.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Wednesday, July 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 2.42%.

About Universal Insurance

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 homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.

Featured Story: Investing in Growth Stocks

Get a free copy of the Zacks research report on Universal Insurance (UVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.