ValuEngine Lowers HCI Group, Inc. (HCI) to Sell
HCI Group, Inc. (NYSE:HCI) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Several other analysts have also recently commented on HCI. Zacks Investment Research cut shares of HCI Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of HCI Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Sidoti upgraded shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, September 11th. Finally, TheStreet cut shares of HCI Group from a “b-” rating to a “c” rating in a research note on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.33.
Shares of HCI Group (NYSE HCI) opened at $32.55 on Thursday. HCI Group has a 52 week low of $27.11 and a 52 week high of $50.93. The company has a quick ratio of 1.15, a current ratio of 0.61 and a debt-to-equity ratio of 1.22.
HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($4.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.52) by ($1.92). HCI Group had a negative return on equity of 6.34% and a negative net margin of 5.63%. The firm had revenue of $44.00 million during the quarter, compared to analyst estimates of $66.46 million. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue was down 30.5% on a year-over-year basis. analysts forecast that HCI Group will post -0.4 earnings per share for the current fiscal year.
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In related news, CEO Paresh Patel purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was acquired at an average price of $36.06 per share, for a total transaction of $36,060.00. Following the acquisition, the chief executive officer now directly owns 227,000 shares of the company’s stock, valued at approximately $8,185,620. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 1,565 shares of company stock valued at $56,894 in the last quarter. Insiders own 20.37% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Federated Investors Inc. PA increased its holdings in shares of HCI Group by 42.6% in the 2nd quarter. Federated Investors Inc. PA now owns 63,411 shares of the insurance provider’s stock valued at $2,979,000 after purchasing an additional 18,929 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of HCI Group by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 64,865 shares of the insurance provider’s stock valued at $2,957,000 after purchasing an additional 2,865 shares in the last quarter. LSV Asset Management increased its holdings in shares of HCI Group by 40.4% in the 2nd quarter. LSV Asset Management now owns 549,934 shares of the insurance provider’s stock valued at $25,835,000 after purchasing an additional 158,380 shares in the last quarter. Foundry Partners LLC increased its holdings in shares of HCI Group by 107.1% in the 2nd quarter. Foundry Partners LLC now owns 137,050 shares of the insurance provider’s stock valued at $6,439,000 after purchasing an additional 70,875 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of HCI Group by 15.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 83,796 shares of the insurance provider’s stock valued at $3,936,000 after purchasing an additional 11,326 shares in the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.
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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