HCI Group, Inc. (NYSE:HCI) Short Interest Down 6.3% in March

HCI Group, Inc. (NYSE:HCI) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 964,700 shares, a decline of 6.3% from the March 15th total of 1,030,000 shares. Currently, 13.0% of the company’s stock are sold short. Based on an average daily volume of 134,000 shares, the days-to-cover ratio is currently 7.2 days.

Insider Activity at HCI Group

In related news, Director Sanjay Madhu sold 3,294 shares of HCI Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total transaction of $391,063.68. Following the sale, the director now directly owns 71,706 shares in the company, valued at $8,512,936.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Paresh Patel bought 500 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average cost of $111.00 per share, with a total value of $55,500.00. Following the completion of the acquisition, the chief executive officer now owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sanjay Madhu sold 3,294 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total value of $391,063.68. Following the completion of the sale, the director now directly owns 71,706 shares in the company, valued at $8,512,936.32. The disclosure for this sale can be found here. Insiders have sold 113,102 shares of company stock worth $13,198,303 over the last ninety days. 25.25% of the stock is owned by corporate insiders.

Institutional Trading of HCI Group

A number of hedge funds have recently bought and sold shares of the company. Range Financial Group LLC increased its position in HCI Group by 34.8% during the first quarter. Range Financial Group LLC now owns 9,054 shares of the insurance provider’s stock valued at $1,051,000 after acquiring an additional 2,339 shares during the last quarter. Quadrature Capital Ltd increased its position in HCI Group by 55.8% during the fourth quarter. Quadrature Capital Ltd now owns 29,844 shares of the insurance provider’s stock valued at $2,610,000 after acquiring an additional 10,693 shares during the last quarter. Vanguard Group Inc. increased its position in HCI Group by 12.0% during the fourth quarter. Vanguard Group Inc. now owns 468,714 shares of the insurance provider’s stock valued at $40,966,000 after acquiring an additional 50,201 shares during the last quarter. Wellington Management Group LLP purchased a new stake in HCI Group during the fourth quarter valued at $5,633,000. Finally, Goldman Sachs Group Inc. increased its position in HCI Group by 7.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 30,513 shares of the insurance provider’s stock valued at $2,667,000 after acquiring an additional 2,167 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Stock Down 1.7 %

HCI stock opened at $109.95 on Thursday. HCI Group has a 1-year low of $48.08 and a 1-year high of $121.57. The business has a fifty day moving average price of $106.79 and a 200-day moving average price of $88.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $1.10 billion, a P/E ratio of 14.54 and a beta of 1.14.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.41 by $1.81. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. The firm had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. Equities analysts forecast that HCI Group will post 10.33 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Thursday, February 15th. HCI Group’s dividend payout ratio (DPR) is presently 21.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Truist Financial boosted their target price on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 12th. William Blair raised HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Oppenheimer reissued an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a report on Friday, April 5th. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of HCI Group in a report on Monday. Finally, Compass Point boosted their price target on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

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.