Anthony Saravanos Sells 12,967 Shares of HCI Group, Inc. (NYSE:HCI) Stock

HCI Group, Inc. (NYSE:HCIGet Free Report) insider Anthony Saravanos sold 12,967 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the transaction, the insider now directly owns 67,033 shares in the company, valued at $7,843,531.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

HCI Group Stock Up 0.5 %

Shares of HCI opened at $116.08 on Friday. The firm has a 50 day simple moving average of $101.20 and a two-hundred day simple moving average of $82.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. HCI Group, Inc. has a one year low of $48.08 and a one year high of $121.57. The company has a market cap of $1.16 billion, a P/E ratio of 15.35 and a beta of 1.12.

HCI Group (NYSE:HCIGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. The company had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same quarter in the previous year, the firm earned $0.06 EPS. Research analysts forecast that HCI Group, Inc. will post 10.22 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 16th were paid a $0.40 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. HCI Group’s payout ratio is currently 21.16%.

Institutional Investors Weigh In On HCI Group

Several hedge funds and other institutional investors have recently made changes to their positions in HCI. Wasatch Advisors LP acquired a new stake in HCI Group in the first quarter valued at approximately $8,558,000. Bank of America Corp DE grew its position in HCI Group by 859.9% during the 1st quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider’s stock worth $5,983,000 after acquiring an additional 99,992 shares during the last quarter. Millennium Management LLC increased its holdings in HCI Group by 160.2% in the 2nd quarter. Millennium Management LLC now owns 139,280 shares of the insurance provider’s stock worth $9,438,000 after purchasing an additional 85,759 shares in the last quarter. Portolan Capital Management LLC acquired a new position in HCI Group in the 1st quarter worth about $5,815,000. Finally, Wellington Management Group LLP bought a new position in HCI Group in the fourth quarter valued at about $5,633,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on HCI shares. Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of HCI Group in a research report on Wednesday. Truist Financial raised their price objective on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Finally, Compass Point raised their price target on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.33.

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About HCI Group

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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.

Further Reading

Insider Buying and Selling by Quarter for HCI Group (NYSE:HCI)

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