HCI Group (NYSE:HCI) Shares Down 4.3% – Here’s Why

HCI Group, Inc. (NYSE:HCI)’s share price fell 4.3% on Thursday . The stock traded as low as $162.80 and last traded at $162.8250. 130,337 shares traded hands during trading, a decline of 15% from the average session volume of 153,013 shares. The stock had previously closed at $170.10.

Analyst Ratings Changes

A number of research firms recently commented on HCI. Citizens Jmp increased their price objective on HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a research note on Monday, November 10th. Oppenheimer lowered shares of HCI Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Truist Financial lifted their price target on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Zacks Research downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Citigroup restated a “market outperform” rating on shares of HCI Group in a research report on Friday, January 16th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $230.00.

HCI Group Stock Performance

The stock’s 50 day moving average price is $179.24 and its 200 day moving average price is $174.34. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 10.12 and a beta of 1.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. The company had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. HCI Group had a net margin of 24.97% and a return on equity of 31.18%. On average, analysts expect that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 20th. HCI Group’s dividend payout ratio is 10.22%.

Institutional Investors Weigh In On HCI Group

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in HCI Group by 15.1% in the 3rd quarter. Vanguard Group Inc. now owns 807,454 shares of the insurance provider’s stock valued at $154,975,000 after purchasing an additional 105,925 shares in the last quarter. Danske Bank A S purchased a new stake in shares of HCI Group during the third quarter valued at approximately $19,256,000. Marshall Wace LLP lifted its position in shares of HCI Group by 107.3% during the second quarter. Marshall Wace LLP now owns 158,224 shares of the insurance provider’s stock worth $24,082,000 after purchasing an additional 81,884 shares in the last quarter. American Century Companies Inc. lifted its position in shares of HCI Group by 15.2% during the second quarter. American Century Companies Inc. now owns 521,641 shares of the insurance provider’s stock worth $79,394,000 after purchasing an additional 68,860 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of HCI Group by 46.8% in the second quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock valued at $28,222,000 after purchasing an additional 59,134 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.