Universal Insurance (NYSE:UVE) Stock Rating Lowered by StockNews.com

Universal Insurance (NYSE:UVE – Earn Ratings) downgraded by analysts at StockNews.com from a “strong buy” to a “buy” rating in a note issued to investors on Friday.

Several other equity research analysts have also recently issued reports on UVE. Piper Sandler upgraded Universal Insurance from a “neutral” rating to an “overweight” rating in a report on Monday, February 27. TheStreet upgraded Universal Insurance’s stock from “d+” to “c-” in a report on Wednesday, January 25.

Universal Insurance Trade Down 1.2%

UVE stock shares traded down $0.23 during trading on Friday, hitting $18.25. 142,490 shares traded, compared to an average volume of 247,358. Universal Insurance had a 52-week low of $8.39 and a 52-week high of $19.71. The company has a market capitalization of $555.35 million, a P/E ratio of -24.66 and a beta of 0.91. The company’s fifty-day moving average price is $15.00 and its 200-day moving average price is $12.03. The company has a debt to equity ratio of 0.36, a current ratio of 0.64 and a quick ratio of 0.64.

Institutional Investors Consider Universal Insurance

Institutional investors have recently made changes to their positions in stocks. Dimension Fund Advisors LP increased its position in Universal Insurance stock by 4.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,951,327 shares of the insurer valued at $19,220,000 after purchasing an additional 85,486 shares during the last quarter. Vanguard Group Inc. increased its holdings in Universal Insurance by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,881,590 shares of insurer stock valued at $18,534,000 after purchasing an additional 28,986 shares during the last quarter. Donald Smith & CO. Inc. increased its holdings in Universal Insurance by 18.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,316,924 shares of the insurer valued at $13,946,000 after purchasing an additional 209,215 shares during the last quarter. State Street Corp increased its holdings in Universal Insurance stock by 1.3% during the second quarter. State Street Corp. now owns 1,216,769 shares of the insurer for $15,855,000 after acquiring an additional 15,280 shares during the period. Finally, Invesco Ltd. increased its position in Universal Insurance stock by 28.9% in the first quarter. Invesco Ltd. now owns 1,173,582 shares of the insurer valued at $15,831,000 after acquiring an additional 263,456 shares during the last quarter. 66.85% of the shares are currently owned by hedge funds and other institutional investors.

Universal Insurance Company Profile

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Universal Insurance Holdings, Inc. is engaged in offering property and casualty insurance and value-added insurance services. It develops, markets and underwrites insurance products for consumers in the private residential homeowners line of business and performs substantially all other insurance-related services for major insurance entities, including risk management, claims management, and distribution.

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