HCI Group, Inc. (NYSE:HCI) Insider Sells $2,437,548.94 in Stock

HCI Group, Inc. (NYSE:HCI) insider Anthony Saravanos sold 20,873 shares of HCI Group stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $116.78, for a total value of $2,437,548.94. Following the completion of the transaction, the insider now directly owns 30,000 shares in the company, valued at $3,503,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Anthony Saravanos also recently made the following trade(s):

• On Friday, April 5th, Anthony Saravanos sold 3,160 shares of HCI Group stock. The shares were sold at an average price of $115.00, for a total transaction of $363,400.00.
• On Wednesday, March 27th, Anthony Saravanos sold 12,967 shares of HCI Group stock. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67.

HCI Group Trading Down 2.0 %

Shares of HCI stock opened at $110.65 on Friday. The company has a 50 day moving average of $104.89 and a 200-day moving average of $86.31. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group, Inc. has a 12-month low of $48.08 and a 12-month high of $121.57. The firm has a market cap of $1.10 billion, a P/E ratio of 14.64 and a beta of 1.14.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The business had revenue of $162.67 million during the quarter, compared to analyst estimates of $146.09 million. During the same period in the previous year, the business earned $0.06 EPS. Sell-side analysts anticipate that HCI Group, Inc. will post 10.33 earnings per share for the current year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors 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 yield of 1.45%. HCI Group’s dividend payout ratio is 21.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HCI. Wasatch Advisors LP purchased a new position in HCI Group in the 1st quarter valued at approximately $8,558,000. Bank of America Corp DE boosted its holdings in HCI Group by 859.9% in the 1st quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider’s stock valued at $5,983,000 after purchasing an additional 99,992 shares during the period. Millennium Management LLC boosted 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 valued at $9,438,000 after purchasing an additional 85,759 shares during the period. Portolan Capital Management LLC bought a new position in HCI Group in the 1st quarter valued at $5,815,000. Finally, Wellington Management Group LLP bought a new position in HCI Group in the 4th quarter valued at $5,633,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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