ValuEngine Lowers HCI Group (NYSE:HCI) to Hold

ValuEngine downgraded shares of HCI Group (NYSE:HCI) from a buy rating to a hold rating in a report issued on Wednesday, ValuEngine reports.

HCI has been the topic of a number of other research reports. TheStreet raised shares of HCI Group from a c+ rating to a b- rating in a report on Friday, May 3rd. Zacks Investment Research raised shares of HCI Group from a hold rating to a buy rating and set a $53.00 target price on the stock in a report on Tuesday, February 19th. Finally, Keefe, Bruyette & Woods raised shares of HCI Group from an underperform rating to a market perform rating and lowered their target price for the company from $52.00 to $42.00 in a report on Sunday, March 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $48.33.

NYSE:HCI opened at $41.12 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. HCI Group has a 12 month low of $36.72 and a 12 month high of $59.32. The company has a market capitalization of $346.66 million, a P/E ratio of 21.46 and a beta of 0.82.

HCI Group (NYSE:HCI) last issued its earnings results 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 the consensus estimate of $56.43 million. As a group, sell-side analysts expect that HCI Group will post 3.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be issued 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 3.89%. HCI Group’s payout ratio is 49.54%.

In other HCI Group news, Director Gregory Politis bought 4,000 shares of the stock in a transaction on Friday, April 12th. The shares were acquired at an average price of $40.91 per share, with a total value of $163,640.00. Following the acquisition, the director now directly owns 206,000 shares of the company’s stock, valued at approximately $8,427,460. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Loreen M. Spencer bought 950 shares of the stock in a transaction 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 acquisition, the director now directly owns 950 shares in the company, valued at $39,073.50. The disclosure for this purchase can be found here. Insiders own 22.31% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of HCI Group by 4.9% in the fourth quarter. Arizona State Retirement System now owns 11,163 shares of the insurance provider’s stock worth $567,000 after purchasing an additional 524 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of HCI Group by 19,900.0% in the first quarter. Meeder Asset Management Inc. now owns 600 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 597 shares during the period. Macquarie Group Ltd. increased its holdings in shares of HCI Group by 3.5% in the fourth quarter. Macquarie Group Ltd. now owns 17,900 shares of the insurance provider’s stock worth $909,000 after purchasing an additional 600 shares during the period. Northern Trust Corp increased its holdings in shares of HCI Group by 0.7% in the first quarter. Northern Trust Corp now owns 92,669 shares of the insurance provider’s stock worth $3,961,000 after purchasing an additional 652 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in shares of HCI Group by 9.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 10,360 shares of the insurance provider’s stock worth $486,000 after purchasing an additional 917 shares during the period. 61.36% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Company Profile

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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