HCI Group (NYSE:HCI) Trading Down 3.9% – Here’s Why

HCI Group, Inc. (NYSE:HCI) dropped 3.9% on Wednesday . The stock traded as low as $171.75 and last traded at $172.85. Approximately 29,991 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 170,934 shares. The stock had previously closed at $179.94.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HCI. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Weiss Ratings raised HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Cantor Fitzgerald initiated coverage on HCI Group in a report on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price objective on the stock. Finally, Wall Street Zen cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $238.33.

HCI Group Stock Up 2.3%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $2.27 billion, a PE ratio of 7.82 and a beta of 1.03. The business’s 50 day simple moving average is $165.01 and its 200 day simple moving average is $163.38.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.19. The business had revenue of $242.88 million during the quarter, compared to analysts’ expectations of $245.09 million. HCI Group had a net margin of 32.64% and a return on equity of 30.88%. As a group, analysts anticipate that HCI Group, Inc. will post 18.41 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is 7.02%.

Hedge Funds Weigh In On HCI Group

A number of hedge funds have recently modified their holdings of HCI. Freestone Grove Partners LP raised its holdings in HCI Group by 353.6% in the 4th quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock valued at $52,735,000 after buying an additional 214,464 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of HCI Group by 2,944.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock valued at $18,067,000 after acquiring an additional 113,019 shares during the last quarter. Danske Bank A S purchased a new stake in shares of HCI Group in the 3rd quarter valued at approximately $19,256,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of HCI Group by 129.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 125,399 shares of the insurance provider’s stock worth $24,038,000 after acquiring an additional 70,662 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of HCI Group by 46.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock worth $28,222,000 after purchasing an additional 59,134 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 (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.