HCI Group Inc (HCI) CEO Acquires $30,300.00 in Stock

HCI Group Inc (NYSE:HCI) CEO Paresh Patel acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average cost of $30.30 per share, for a total transaction of $30,300.00. Following the transaction, the chief executive officer now owns 74,000 shares of the company’s stock, valued at approximately $2,242,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Paresh Patel also recently made the following trade(s):

  • On Wednesday, September 20th, Paresh Patel acquired 1,000 shares of HCI Group stock. The shares were acquired at an average cost of $36.06 per share, for a total transaction of $36,060.00.

HCI Group Inc (HCI) traded down $1.08 during trading hours on Friday, hitting $28.92. 291,900 shares of the stock were exchanged, compared to its average volume of 120,873. HCI Group Inc has a 12 month low of $27.11 and a 12 month high of $50.93. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.61 and a current ratio of 0.61.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($4.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.52) by ($1.92). HCI Group had a negative net margin of 5.63% and a negative return on equity of 6.34%. The firm had revenue of $44.00 million during the quarter, compared to the consensus estimate of $66.46 million. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. analysts predict that HCI Group Inc will post -0.4 earnings per share for the current fiscal year.

HCI Group declared that its board has approved a share buyback plan on Wednesday, December 6th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Thursday, November 16th. HCI Group’s dividend payout ratio is -74.07%.

Several equities analysts recently weighed in on the stock. ValuEngine lowered shares of HCI Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Zacks Investment Research raised shares of HCI Group from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. TheStreet lowered shares of HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Finally, Sidoti raised shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, September 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $43.33.

Large investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA raised its position in shares of HCI Group by 42.6% in the second quarter. Federated Investors Inc. PA now owns 63,411 shares of the insurance provider’s stock valued at $2,979,000 after purchasing an additional 18,929 shares during the period. Victory Capital Management Inc. raised its position in shares of HCI Group by 33.9% in the third quarter. Victory Capital Management Inc. now owns 31,400 shares of the insurance provider’s stock valued at $1,201,000 after purchasing an additional 7,950 shares during the period. LSV Asset Management raised its position in shares of HCI Group by 40.4% in the second quarter. LSV Asset Management now owns 549,934 shares of the insurance provider’s stock valued at $25,835,000 after purchasing an additional 158,380 shares during the period. Seizert Capital Partners LLC raised its position in shares of HCI Group by 65.2% in the third quarter. Seizert Capital Partners LLC now owns 21,303 shares of the insurance provider’s stock valued at $815,000 after purchasing an additional 8,405 shares during the period. Finally, IndexIQ Advisors LLC raised its position in shares of HCI Group by 83.3% in the third quarter. IndexIQ Advisors LLC now owns 19,015 shares of the insurance provider’s stock valued at $727,000 after purchasing an additional 8,644 shares during the period. 76.48% of the stock is currently owned by institutional investors.

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HCI Group Company Profile

HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.

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