HCI Group, Inc. (HCI) Trading Down 20%
Shares of HCI Group, Inc. (NYSE:HCI) were down 20% on Tuesday . The stock traded as low as $30.92 and last traded at $30.94. Approximately 876,918 shares were traded during mid-day trading, an increase of 989% from the average daily volume of 80,519 shares. The stock had previously closed at $38.68.
Several analysts recently weighed in on HCI shares. Zacks Investment Research upgraded HCI Group from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, June 7th. SunTrust Banks, Inc. started coverage on HCI Group in a research note on Tuesday, July 4th. They issued a “buy” rating and a $52.00 price target on the stock. Keefe, Bruyette & Woods restated a “hold” rating on shares of HCI Group in a research note on Monday, May 15th. ValuEngine upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 6th. Finally, BidaskClub downgraded HCI Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.67.
The company has a market cap of $308.97 million, a P/E ratio of 8.52 and a beta of 2.37. The firm has a 50 day moving average of $42.40 and a 200-day moving average of $45.13.
HCI Group (NYSE:HCI) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company had revenue of $67.58 million for the quarter, compared to analyst estimates of $64.33 million. HCI Group had a net margin of 13.52% and a return on equity of 15.65%. HCI Group’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. Analysts forecast that HCI Group, Inc. will post $3.40 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Wednesday, August 16th. HCI Group’s payout ratio is 38.36%.
A number of hedge funds have recently modified their holdings of the stock. City Financial Investment Co Ltd purchased a new position in HCI Group during the first quarter valued at approximately $1,734,000. Dimensional Fund Advisors LP increased its holdings in HCI Group by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 811,355 shares of the insurance provider’s stock valued at $38,118,000 after buying an additional 54,250 shares during the period. Vanguard Group Inc. increased its holdings in HCI Group by 10.7% during the second quarter. Vanguard Group Inc. now owns 608,144 shares of the insurance provider’s stock valued at $28,571,000 after buying an additional 58,766 shares during the period. LSV Asset Management increased its holdings in HCI Group by 40.4% during the second quarter. LSV Asset Management now owns 549,934 shares of the insurance provider’s stock valued at $25,835,000 after buying an additional 158,380 shares during the period. Finally, Schroder Investment Management Group increased its holdings in HCI Group by 4.9% during the second quarter. Schroder Investment Management Group now owns 462,396 shares of the insurance provider’s stock valued at $22,056,000 after buying an additional 21,800 shares during the period. 71.47% of the stock is currently owned by institutional investors.
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HCI Group Company Profile
HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.