HCI Group (HCI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of HCI Group (NYSE:HCI) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $40.00 price target on the insurance provider’s stock.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

Separately, ValuEngine downgraded shares of HCI Group from a hold rating to a sell rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. HCI Group currently has an average rating of Hold and an average price target of $42.50.

HCI Group (NYSE HCI) opened at $34.92 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $345.20, a P/E ratio of -18.48 and a beta of 2.25. HCI Group has a one year low of $27.11 and a one year high of $50.93.

HCI Group announced that its board has initiated a stock repurchase program on Wednesday, December 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, February 15th. HCI Group’s payout ratio is currently -74.07%.

In other HCI Group news, Director James J. Macchiarola acquired 6,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $30.44 per share, with a total value of $182,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Politis acquired 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $29.62 per share, with a total value of $118,480.00. Following the transaction, the director now directly owns 194,000 shares of the company’s stock, valued at $5,746,280. The disclosure for this purchase can be found here. Insiders bought 13,000 shares of company stock valued at $391,360 in the last three months. Company insiders own 20.37% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased 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 worth $1,201,000 after acquiring an additional 7,950 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in HCI Group during the 3rd quarter valued at $590,000. Dimensional Fund Advisors LP grew its holdings in HCI Group by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 832,371 shares of the insurance provider’s stock valued at $31,838,000 after purchasing an additional 21,016 shares in the last quarter. OxFORD Asset Management LLP grew its holdings in HCI Group by 7.8% during the 3rd quarter. OxFORD Asset Management LLP now owns 62,644 shares of the insurance provider’s stock valued at $2,382,000 after purchasing an additional 4,512 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in HCI Group by 24.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 129,152 shares of the insurance provider’s stock valued at $4,939,000 after purchasing an additional 25,391 shares in the last quarter. 76.29% of the stock is 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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