HCI Group (NYSE:HCI) Cut to “Hold” at Zacks Investment Research

HCI Group (NYSE:HCI – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

HCI has been the subject of a number of other research reports. Truist Financial cut their target price on shares of HCI Group from $110.00 to $95.00 in a research report on Wednesday, January 19th. StockNews.com upgraded shares of HCI Group from a “sell” rating to a “hold” rating in a research report on Friday, March 25th.

NYSE HCI opened at $65.04 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $671.47 million, a PE ratio of 232.29 and a beta of 0.76. HCI Group has a 52-week low of $57.51 and a 52-week high of $139.80. The company has a 50-day simple moving average of $66.16 and a 200 day simple moving average of $85.63.

HCI Group (NYSE:HCI – Get Rating) last issued its earnings results on Tuesday, March 8th. The insurance provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.36. The firm had revenue of $112.32 million during the quarter, compared to analyst estimates of $106.69 million. HCI Group had a net margin of 0.46% and a return on equity of 0.60%. During the same quarter last year, the business earned $0.22 earnings per share. As a group, analysts forecast that HCI Group will post 0.6 EPS for the current fiscal year.

In other news, Director Gregory Politis acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was bought at an average cost of $68.38 per share, for a total transaction of $136,760.00. Following the completion of the transaction, the director now owns 265 shares of the company’s stock, valued at $18,120.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.71% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in HCI Group in the third quarter valued at approximately $27,000. Mutual of America Capital Management LLC raised its stake in HCI Group by 24.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 1,092 shares of the insurance provider’s stock valued at $91,000 after purchasing an additional 213 shares in the last quarter. USA Financial Portformulas Corp purchased a new stake in HCI Group in the third quarter valued at approximately $160,000. Nisa Investment Advisors LLC raised its stake in HCI Group by 188.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the insurance provider’s stock valued at $176,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in HCI Group in the third quarter valued at approximately $205,000. Institutional investors own 59.58% of the company’s stock.

About HCI Group (Get Rating)

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, 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.

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