HCI Group (HCI) Releases Earnings Results, Misses Expectations By $0.40 EPS

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HCI Group (NYSE:HCI) announced its quarterly earnings results on Thursday. The insurance provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.40), MarketWatch Earnings reports. HCI Group had a return on equity of 13.68% and a net margin of 8.14%. The firm had revenue of $60.63 million during the quarter, compared to analysts’ expectations of $56.43 million.

Shares of HCI Group stock traded down $2.72 on Friday, reaching $40.82. The stock had a trading volume of 181,100 shares, compared to its average volume of 68,500. HCI Group has a 1 year low of $36.72 and a 1 year high of $59.32. The company has a market cap of $363.36 million, a price-to-earnings ratio of 12.54 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 17th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 16th. HCI Group’s payout ratio is 49.54%.

In related news, CEO Paresh Patel bought 7,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $41.20 per share, with a total value of $288,400.00. Following the completion of the purchase, the chief executive officer now directly owns 103,000 shares of the company’s stock, valued at approximately $4,243,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Politis bought 4,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was bought at an average cost of $40.91 per share, for a total transaction of $163,640.00. Following the completion of the purchase, the director now directly owns 206,000 shares of the company’s stock, valued at $8,427,460. The disclosure for this purchase can be found here. Corporate insiders own 22.31% of the company’s stock.

A number of brokerages have recently issued reports on HCI. Zacks Investment Research downgraded shares of HCI Group from a “hold” rating to a “strong sell” rating in a report on Friday, April 26th. TheStreet downgraded shares of HCI Group from a “b-” rating to a “c+” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.33.

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HCI Group Company Profile

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.

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Earnings History for HCI Group (NYSE:HCI)

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