NEW YORK (TheStreet) -- Shares of Florida-based residential insurance provider Universal Insurance  (UVE - Get Report) were down 14.39% to $19.03 on heavy trading volume mid-Thursday afternoon as category 4 Hurricane Matthew nears the Atlantic coast. 

The Fort Lauderdale-based company is the biggest home insurer in Florida, Bloomberg reports. 

"Because of our concentration in Florida, and in particular in Broward, Palm Beach and Miami-Dade counties, we are exposed to hurricanes and windstorms," Universal Insurance said in the "Risk Factors" section of its 2015 annual report.

Florida is expected to begin to feel the impact of the storm this afternoon.

About 1.92 million shares of Universal Insurance have been traded so far today, well above the company's average trading volume of roughly 289,196 shares a day.

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.

Universal Insurance's strengths such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: UVE

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.