HCI Group (NYSE:HCI) Shares Down 3%

HCI Group, Inc. (NYSE:HCI) dropped 3% on Friday . The company traded as low as $94.51 and last traded at $95.57. Approximately 48,071 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 143,630 shares. The stock had previously closed at $98.51.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. StockNews.com upgraded shares of HCI Group from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Compass Point lifted their price objective on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a research note on Friday, April 5th. Finally, JMP Securities raised their price objective on HCI Group from $120.00 to $135.00 and gave the company a “market outperform” rating in a research note on Thursday, May 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $127.75.

HCI Group Stock Down 3.5 %

The firm has a market capitalization of $995.91 million, a price-to-earnings ratio of 10.02 and a beta of 1.15. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $111.03 and its 200 day moving average price is $97.25.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $1.81. HCI Group had a return on equity of 40.30% and a net margin of 17.72%. The firm had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. During the same period last year, the business posted $0.06 earnings per share. As a group, research analysts forecast that HCI Group, Inc. will post 11.68 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 17th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.68%. HCI Group’s dividend payout ratio is presently 16.28%.

Insiders Place Their Bets

In other news, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the sale, the general counsel now owns 57,630 shares of the company’s stock, valued at approximately $6,709,284.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Paresh Patel acquired 1,000 shares of HCI Group stock in a transaction on Tuesday, April 9th. The stock was bought at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the transaction, the chief executive officer now owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew L. Graham sold 800 shares of HCI Group stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the completion of the sale, the general counsel now owns 57,630 shares in the company, valued at approximately $6,709,284.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,102 shares of company stock valued at $13,198,303. Company insiders own 25.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HCI. Hood River Capital Management LLC raised its holdings in shares of HCI Group by 1.4% during the 1st quarter. Hood River Capital Management LLC now owns 721,876 shares of the insurance provider’s stock worth $83,795,000 after acquiring an additional 9,828 shares during the period. Vanguard Group Inc. raised its stake in HCI Group by 6.7% during the first quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock worth $58,034,000 after purchasing an additional 31,234 shares during the period. Wasatch Advisors LP boosted its holdings in HCI Group by 5.1% in the 4th quarter. Wasatch Advisors LP now owns 186,053 shares of the insurance provider’s stock valued at $16,261,000 after purchasing an additional 8,992 shares during the last quarter. Khrom Capital Management LLC grew its stake in shares of HCI Group by 792.2% in the 1st quarter. Khrom Capital Management LLC now owns 180,506 shares of the insurance provider’s stock valued at $20,953,000 after buying an additional 160,274 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of HCI Group by 344.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider’s stock worth $8,360,000 after buying an additional 55,817 shares during the last quarter. 86.99% of the stock is 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.