Zacks Investment Research Downgrades HCI Group (HCI) to Hold

Share on StockTwits

Zacks Investment Research cut shares of HCI Group (NYSE:HCI) from a strong-buy rating to a hold rating in a research note released on Tuesday.

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. “

A number of other brokerages also recently issued reports on HCI. TheStreet raised HCI Group from a c rating to a b- rating in a report on Wednesday, November 7th. Keefe, Bruyette & Woods downgraded HCI Group from a market perform rating to an underperform rating in a report on Thursday, December 13th. Finally, JMP Securities upped their price target on HCI Group from $48.00 to $50.00 and gave the company a market outperform rating in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $53.50.

HCI traded down $0.63 on Tuesday, reaching $47.62. The company’s stock had a trading volume of 6,548 shares, compared to its average volume of 91,337. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $445.29 million, a price-to-earnings ratio of -63.49 and a beta of 1.26. HCI Group has a fifty-two week low of $33.26 and a fifty-two week high of $59.32.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Tuesday, November 6th. The insurance provider reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.41. The firm had revenue of $61.74 million during the quarter, compared to the consensus estimate of $59.26 million. HCI Group had a return on equity of 21.65% and a net margin of 15.96%. On average, equities analysts anticipate that HCI Group will post 3.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 21st. Shareholders of record on Friday, November 16th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, November 15th. HCI Group’s dividend payout ratio is currently -200.00%.

In other news, Director George Apostolou acquired 500 shares of HCI Group stock in a transaction on Wednesday, December 5th. The stock was bought at an average price of $53.79 per share, for a total transaction of $26,895.00. Following the completion of the purchase, the director now owns 18,000 shares in the company, valued at $968,220. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Macchiarola acquired 1,500 shares of HCI Group stock in a transaction on Monday, December 10th. The stock was purchased at an average price of $53.46 per share, with a total value of $80,190.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 3,765 shares of company stock valued at $199,233. 22.31% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in HCI Group by 1.8% in the third quarter. BlackRock Inc. now owns 1,130,908 shares of the insurance provider’s stock valued at $49,477,000 after buying an additional 19,587 shares during the last quarter. Deutsche Bank AG lifted its stake in HCI Group by 0.6% in the third quarter. Deutsche Bank AG now owns 595,132 shares of the insurance provider’s stock valued at $26,035,000 after buying an additional 3,341 shares during the last quarter. Vanguard Group Inc lifted its stake in HCI Group by 2.6% in the third quarter. Vanguard Group Inc now owns 523,706 shares of the insurance provider’s stock valued at $22,912,000 after buying an additional 13,178 shares during the last quarter. Vanguard Group Inc. lifted its stake in HCI Group by 2.6% in the third quarter. Vanguard Group Inc. now owns 523,706 shares of the insurance provider’s stock valued at $22,912,000 after buying an additional 13,178 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in HCI Group by 7.1% in the third quarter. Royce & Associates LP now owns 225,109 shares of the insurance provider’s stock valued at $9,849,000 after buying an additional 15,000 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

About HCI Group

HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.

Featured Article: How To Calculate Debt-to-Equity Ratio

Get a free copy of the Zacks research report on HCI Group (HCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for HCI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCI Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply