HCI Group (NYSE:HCI) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of HCI Group (NYSE:HCI) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on HCI. Wall Street Zen lowered HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings upgraded HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.00.

HCI Group Trading Up 0.3%

Shares of HCI opened at $150.27 on Wednesday. HCI Group has a 12-month low of $136.37 and a 12-month high of $210.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.60 and a beta of 1.08. The stock’s 50-day moving average price is $154.34 and its 200 day moving average price is $165.17.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The firm had revenue of $242.88 million for the quarter, compared to analyst estimates of $245.09 million. As a group, research analysts predict that HCI Group will post 17.82 earnings per share for the current year.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 15th. HCI Group’s payout ratio is presently 7.02%.

Institutional Investors Weigh In On HCI Group

Institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new stake in HCI Group during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC boosted its holdings in HCI Group by 519.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 135 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in HCI Group by 62.8% during the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 71 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in HCI Group by 557.6% during the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 184 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its holdings in HCI Group by 645.2% during the third quarter. Aster Capital Management DIFC Ltd now owns 231 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 200 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.