By late afternoon, shares had tumbled 16.3% to $12.67.
Over the three months to March, the insurer earned 38 cents a share, 13 cents lower than analysts surveyed by Thomson Reuters forecast.
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Separately, TheStreet Ratings team rates UNIVERSAL INSURANCE HLDGS as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNIVERSAL INSURANCE HLDGS (UVE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: UVE Ratings Report