Universal Insurance (NYSE:UVE) Stock Rating Lowered by Zacks Investment Research

Universal Insurance (NYSE:UVE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Universal Insurance Holdings, Inc., through its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), is currently engaged in insurance underwriting, distribution and claims. UPCIC generates revenue from the collection and investment of premiums. The Company’s agency operations which include Universal Florida Insurance Agency and U.S. Insurance Solutions, Inc. generate income from policy fees, commissions, premium financing referral fees and the marketing of ancillary services. “

A number of other research firms also recently commented on UVE. Piper Sandler initiated coverage on Universal Insurance in a report on Thursday, May 28th. They issued a “neutral” rating and a $19.00 price objective on the stock. ValuEngine raised Universal Insurance from a “sell” rating to a “hold” rating in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.00.

Shares of UVE opened at $17.51 on Friday. The company has a market capitalization of $567.32 million, a price-to-earnings ratio of 64.85 and a beta of 0.88. Universal Insurance has a fifty-two week low of $14.20 and a fifty-two week high of $30.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.63 and a quick ratio of 0.43. The business’s 50-day moving average is $17.42 and its 200-day moving average is $19.63.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Universal Insurance had a return on equity of 2.23% and a net margin of 0.94%. The firm had revenue of $252.70 million for the quarter, compared to the consensus estimate of $249.16 million. Equities research analysts expect that Universal Insurance will post 2.46 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. BancorpSouth Bank boosted its position in shares of Universal Insurance by 4.2% in the first quarter. BancorpSouth Bank now owns 16,252 shares of the insurance provider’s stock valued at $291,000 after acquiring an additional 650 shares during the period. Comerica Bank boosted its position in shares of Universal Insurance by 2.7% in the first quarter. Comerica Bank now owns 29,579 shares of the insurance provider’s stock valued at $519,000 after acquiring an additional 787 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Universal Insurance by 20.0% in the second quarter. Nisa Investment Advisors LLC now owns 6,000 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 1,000 shares during the period. SG Americas Securities LLC boosted its position in shares of Universal Insurance by 12.9% in the first quarter. SG Americas Securities LLC now owns 10,505 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,203 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Universal Insurance by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 25,607 shares of the insurance provider’s stock valued at $459,000 after acquiring an additional 1,278 shares during the period. 72.96% of the stock is owned by hedge funds and other institutional investors.

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.

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