HCI Group (NYSE:HCI) Trading Down 8.6% – Here’s What Happened

Shares of HCI Group, Inc. (NYSE:HCI) were down 8.6% during mid-day trading on Friday . The company traded as low as $177.50 and last traded at $178.2250. Approximately 216,900 shares traded hands during trading, an increase of 50% from the average daily volume of 144,777 shares. The stock had previously closed at $195.01.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HCI shares. Truist Financial raised their price objective on HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HCI Group in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $203.75.

HCI Group Price Performance

The stock has a fifty day simple moving average of $188.53 and a 200-day simple moving average of $164.73. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 15.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. The company had revenue of $216.35 million during the quarter, compared to analysts’ expectations of $223.53 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. On average, equities research analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 21st. HCI Group’s dividend payout ratio is 14.18%.

Institutional Investors Weigh In On HCI Group

Large investors have recently bought and sold shares of the company. Axxcess Wealth Management LLC increased its position in HCI Group by 13.5% during the third quarter. Axxcess Wealth Management LLC now owns 11,128 shares of the insurance provider’s stock worth $2,136,000 after purchasing an additional 1,320 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of HCI Group by 15.1% in the 3rd quarter. Vanguard Group Inc. now owns 807,454 shares of the insurance provider’s stock valued at $154,975,000 after buying an additional 105,925 shares during the period. Cookson Peirce & Co. Inc. increased its holdings in shares of HCI Group by 7.8% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 4,939 shares of the insurance provider’s stock worth $948,000 after buying an additional 359 shares during the last quarter. Assetmark Inc. increased its holdings in shares of HCI Group by 7.9% during the 3rd quarter. Assetmark Inc. now owns 32,426 shares of the insurance provider’s stock worth $6,224,000 after buying an additional 2,370 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of HCI Group by 31.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 41,895 shares of the insurance provider’s stock valued at $8,041,000 after buying an additional 10,134 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Company Profile

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.