HCI Group (HCI) Stock Price Up -0.9%

HCI Group Inc (NYSE:HCI) shares rose 0.9% during mid-day trading on Thursday . The stock traded as high as $42.79 and last traded at $41.43. Approximately 60,780 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 150,977 shares. The stock had previously closed at $41.81.

HCI has been the topic of several research analyst reports. Zacks Investment Research raised HCI Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, February 6th. ValuEngine raised HCI Group from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, TheStreet upgraded HCI Group from a “c” rating to a “b-” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.50.

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The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.23.

HCI Group (NYSE:HCI) last posted its earnings results on Tuesday, March 6th. The insurance provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.32. The company had revenue of $61.62 million during the quarter, compared to analyst estimates of $62.98 million. HCI Group had a negative return on equity of 3.21% and a negative net margin of 2.82%. HCI Group’s revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. sell-side analysts anticipate that HCI Group Inc will post 3.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.42%. HCI Group’s dividend payout ratio is currently -114.75%.

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

In related news, Director Gregory Politis bought 2,000 shares of the stock in a transaction on Monday, December 18th. The stock was bought at an average price of $29.97 per share, for a total transaction of $59,940.00. Following the completion of the acquisition, the director now directly owns 194,000 shares in the company, valued at $5,814,180. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.37% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC lifted its holdings in shares of HCI Group by 14.3% during the 2nd quarter. Voya Investment Management LLC now owns 5,433 shares of the insurance provider’s stock valued at $255,000 after purchasing an additional 681 shares during the last quarter. State Street Corp lifted its holdings in shares of HCI Group by 0.7% during the 2nd quarter. State Street Corp now owns 210,029 shares of the insurance provider’s stock valued at $9,864,000 after purchasing an additional 1,542 shares during the last quarter. American Research & Management Co. lifted its holdings in shares of HCI Group by 4.6% during the 4th quarter. American Research & Management Co. now owns 36,125 shares of the insurance provider’s stock valued at $1,080,000 after purchasing an additional 1,600 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of HCI Group by 15.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,713 shares of the insurance provider’s stock valued at $469,000 after purchasing an additional 2,137 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of HCI Group by 14.0% during the 4th quarter. Rhumbline Advisers now owns 18,558 shares of the insurance provider’s stock valued at $555,000 after purchasing an additional 2,275 shares during the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.

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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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