HCI Group Inc. (HCI) Sees Large Volume Increase
HCI Group Inc. (NYSE:HCI) saw strong trading volume on Wednesday . 184,997 shares traded hands during trading, an increase of 138% from the previous session’s volume of 77,667 shares.The stock last traded at $29.64 and had previously closed at $29.77.
A number of equities analysts have weighed in on the stock. JMP Securities cut their price target on shares of HCI Group from $40.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday. TheStreet downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.60.
The company’s 50-day moving average price is $28.60 and its 200 day moving average price is $31.20. The firm has a market cap of $311.16 million and a price-to-earnings ratio of 6.79.
HCI Group (NYSE:HCI) last released its earnings results on Tuesday, August 2nd. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by $0.34. The company had revenue of $61.52 million for the quarter, compared to analyst estimates of $64.86 million. During the same quarter in the prior year, the firm earned $1.93 EPS. HCI Group’s quarterly revenue was down 22.2% on a year-over-year basis. On average, analysts forecast that HCI Group Inc. will post $2.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, August 17th.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in HCI Group by 0.7% in the fourth quarter. New York State Common Retirement Fund now owns 211,500 shares of the company’s stock valued at $7,371,000 after buying an additional 1,500 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new position in HCI Group during the fourth quarter valued at $1,005,000. Bank of Montreal Can increased its position in HCI Group by 232.2% in the fourth quarter. Bank of Montreal Can now owns 55,765 shares of the company’s stock valued at $1,943,000 after buying an additional 38,980 shares during the period. Finally, Schroder Investment Management Group increased its position in HCI Group by 34.4% in the fourth quarter. Schroder Investment Management Group now owns 468,826 shares of the company’s stock valued at $16,339,000 after buying an additional 120,000 shares during the period.
HCI Group, Inc (HCI) is a holding company. The Company is engaged in providing property and casualty insurance to homeowners, condominium owners, and tenants in the state of Florida through its subsidiaries. The Company operates through property and casualty insurance operations segment. The Company’s operations include Insurance Operations and Other Operations.
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