Zacks Investment Research downgraded shares of HCI Group (NYSE:HCI) from a hold rating to a strong sell rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

Other research analysts have also recently issued reports about the stock. TheStreet cut shares of Viewray from a c- rating to a d rating in a report on Friday, May 3rd. ValuEngine cut shares of Welbilt from a hold rating to a sell rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $48.33.

Shares of NYSE HCI opened at $39.89 on Wednesday. The firm has a market capitalization of $344.61 million, a PE ratio of 21.33 and a beta of 0.76. The firm’s 50-day simple moving average is $40.97. HCI Group has a 1 year low of $36.72 and a 1 year high of $59.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.57 and a quick ratio of 0.57.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.40). HCI Group had a net margin of 6.13% and a return on equity of 8.44%. The business had revenue of $60.63 million for the quarter, compared to analyst estimates of $56.43 million. On average, research analysts forecast that HCI Group will post 2.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.01%. The ex-dividend date is Thursday, August 15th. HCI Group’s dividend payout ratio (DPR) is presently 49.54%.

In other news, Director Loreen M. Spencer purchased 950 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average cost of $41.13 per share, for a total transaction of $39,073.50. Following the completion of the acquisition, the director now owns 950 shares in the company, valued at $39,073.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.31% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its stake in HCI Group by 19,900.0% in the first quarter. Meeder Asset Management Inc. now owns 600 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 597 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in HCI Group by 175.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,516 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 966 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in HCI Group in the fourth quarter valued at about $108,000. Metropolitan Life Insurance Co. NY boosted its stake in HCI Group by 319.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,147 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 1,635 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in HCI Group by 63.6% in the first quarter. SG Americas Securities LLC now owns 4,253 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 1,653 shares during the last quarter. Institutional investors and hedge funds own 61.33% of the company’s stock.

About HCI Group

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

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