HCI Group Inc (NYSE:HCI) has received an average recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $46.00.
A number of analysts have recently weighed in on HCI shares. 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 report on Tuesday, February 6th. ValuEngine raised HCI Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Finally, TheStreet raised HCI Group from a “c” rating to a “b-” rating in a research report on Tuesday, March 6th.
Shares of HCI Group (HCI) traded down $0.27 during midday trading on Friday, reaching $39.93. The company’s stock had a trading volume of 28,133 shares, compared to its average volume of 147,863. HCI Group has a 52 week low of $27.11 and a 52 week high of $49.25. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $397.05, a price-to-earnings ratio of -32.95 and a beta of 2.16.
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 outstanding shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, February 15th. HCI Group’s dividend payout ratio is currently -114.75%.
In related news, Director Gregory Politis acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of $29.62 per share, with a total value of $118,480.00. Following the completion of the transaction, the director now owns 194,000 shares of the company’s stock, valued at $5,746,280. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 20.37% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in 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 buying an additional 7,950 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in HCI Group in the third quarter valued at $590,000. Dimensional Fund Advisors LP increased its holdings in HCI Group by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 832,371 shares of the insurance provider’s stock valued at $31,838,000 after buying an additional 21,016 shares during the last quarter. OxFORD Asset Management LLP increased its holdings in HCI Group by 7.8% in the third quarter. OxFORD Asset Management LLP now owns 62,644 shares of the insurance provider’s stock valued at $2,382,000 after buying an additional 4,512 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in HCI Group by 24.5% in the third quarter. Ameriprise Financial Inc. now owns 129,152 shares of the insurance provider’s stock valued at $4,939,000 after buying an additional 25,391 shares during the last quarter. 68.07% of the stock is currently owned by hedge funds and other institutional investors.
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About HCI Group
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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