HCI Group, Inc. (NYSE:HCI) CEO Purchases $114,900.00 in Stock

HCI Group, Inc. (NYSE:HCI) CEO Paresh Patel bought 1,000 shares of HCI Group stock in a transaction on Tuesday, April 9th. The shares were acquired at an average cost of $114.90 per share, with a total value of $114,900.00. Following the completion of the acquisition, the chief executive officer now owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, April 11th, Paresh Patel bought 500 shares of HCI Group stock. The shares were acquired at an average cost of $111.00 per share, with a total value of $55,500.00.

HCI Group Stock Performance

Shares of NYSE HCI opened at $109.33 on Friday. The firm has a fifty day moving average price of $105.28 and a 200-day moving average price of $86.48. 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 cap of $1.09 billion, a PE ratio of 14.46 and a beta of 1.14. HCI Group, Inc. has a 1 year low of $48.08 and a 1 year high of $121.57.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. The firm had revenue of $162.67 million during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.06 earnings per share. Equities analysts anticipate that HCI Group, Inc. will post 10.33 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.60 annualized dividend and a yield of 1.46%. HCI Group’s payout ratio is 21.16%.

Hedge Funds Weigh In On HCI Group

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

Wall Street Analyst Weigh In

HCI has been the subject of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 target price on shares of HCI Group in a report on Friday, April 5th. Truist Financial upped their target price 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. Compass Point increased their price objective on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.