Paresh Patel Acquires 1,000 Shares of HCI Group, Inc. (NYSE:HCI) Stock

HCI Group, Inc. (NYSE:HCI) CEO Paresh Patel purchased 1,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was purchased at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paresh Patel also recently made the following trade(s):

• On Thursday, April 11th, Paresh Patel purchased 500 shares of HCI Group stock. The stock was purchased at an average cost of $111.00 per share, for a total transaction of $55,500.00.

HCI Group Price Performance

Shares of HCI opened at $110.65 on Friday. The firm has a market capitalization of $1.10 billion, a PE ratio of 14.64 and a beta of 1.14. 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 1-year low of $48.08 and a 1-year high of $121.57. The company’s fifty day moving average price is $104.89 and its 200-day moving average price is $86.31.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. The company had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities research analysts predict that HCI Group, Inc. will post 10.33 EPS for the current year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.45%. HCI Group’s dividend payout ratio is presently 21.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in HCI Group by 80.7% during the 1st quarter. FMR LLC now owns 468 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 209 shares in the last quarter. Quest Partners LLC purchased a new stake in HCI Group during the 4th quarter valued at about $28,000. Captrust Financial Advisors grew its stake in HCI Group by 112.7% during the 1st quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 257 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in HCI Group by 1,807.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 534 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 506 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in HCI Group during the 3rd quarter valued at about $62,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HCI has been the topic of several analyst reports. William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Compass Point boosted their price objective on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Oppenheimer reissued an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a report on Friday, April 5th. Finally, Truist Financial boosted their price objective on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.33.

About HCI Group

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.