HCI Group (NYSE:HCI) Downgraded by StockNews.com

StockNews.com cut shares of HCI Group (NYSE:HCI) from a buy rating to a hold rating in a report issued on Tuesday.

HCI has been the topic of a number of other research reports. Oppenheimer reiterated an outperform rating and issued a $140.00 price target on shares of HCI Group in a research note on Friday, April 5th. JMP Securities boosted their price objective on HCI Group from $120.00 to $135.00 and gave the stock a market outperform rating in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $127.75.

HCI Group Stock Performance

HCI opened at $90.13 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. HCI Group has a 12-month low of $48.84 and a 12-month high of $121.57. The business has a 50 day moving average of $93.28 and a 200-day moving average of $99.87. The stock has a market cap of $944.51 million, a price-to-earnings ratio of 9.17 and a beta of 1.13.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.91. HCI Group had a return on equity of 40.30% and a net margin of 17.72%. The business had revenue of $206.61 million during the quarter, compared to the consensus estimate of $189.17 million. On average, equities research analysts expect that HCI Group will post 11.63 earnings per share for the current year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.78%. HCI Group’s payout ratio is presently 16.28%.

Institutional Investors Weigh In On HCI Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in HCI Group in the 4th quarter valued at $28,000. Gladius Capital Management LP bought a new position in shares of HCI Group in the second quarter worth $31,000. CWM LLC raised its stake in HCI Group by 115.4% in the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 495 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in HCI Group by 399.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,773 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 1,418 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in HCI Group during the fourth quarter worth about $155,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

About HCI Group

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.