HCI Group, Inc. (NYSE:HCI) Short Interest Update

HCI Group, Inc. (NYSE:HCI) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 964,700 shares, a decrease 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 trading volume, of 134,000 shares, the days-to-cover ratio is presently 7.2 days.

HCI Group Stock Performance

HCI stock traded up $1.71 during trading on Tuesday, hitting $111.93. 86,187 shares of the company traded hands, compared to its average volume of 133,767. The stock’s 50-day simple moving average is $106.02 and its 200 day simple moving average is $87.75. 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 company has a market cap of $1.12 billion, a PE ratio of 14.58 and a beta of 1.14. HCI Group 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 results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating 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 company had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. During the same period last year, the business earned $0.06 earnings per share. On average, equities analysts expect that HCI Group will post 10.33 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 16th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, February 15th. HCI Group’s payout ratio is currently 21.16%.

Insider Transactions at HCI Group

In related news, CEO Paresh Patel acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average price of $111.00 per share, with a total value of $55,500.00. Following the completion of the transaction, the chief executive officer now directly owns 349,500 shares in the company, valued at $38,794,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HCI Group news, Director Sanjay Madhu sold 3,294 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paresh Patel purchased 500 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $111.00 per share, with a total value of $55,500.00. Following the completion of the purchase, the chief executive officer now owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is currently owned by corporate insiders.

Institutional Trading of HCI Group

Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in HCI Group by 80.7% in the first quarter. FMR LLC now owns 468 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 209 shares during the period. Legal & General Group Plc boosted its stake in shares of HCI Group by 1.3% in the second quarter. Legal & General Group Plc now owns 19,503 shares of the insurance provider’s stock worth $1,322,000 after acquiring an additional 243 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of HCI Group by 11.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 245 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of HCI Group by 3.0% in the first quarter. Yousif Capital Management LLC now owns 8,512 shares of the insurance provider’s stock worth $580,000 after acquiring an additional 245 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of HCI Group by 112.7% in the first quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 257 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HCI shares. JMP Securities restated a “market outperform” rating and issued a $120.00 price objective on shares of HCI Group in a research note on Monday. Compass Point raised their price objective on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Oppenheimer restated an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a research note on Friday, April 5th. Truist Financial raised their price objective on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Finally, William Blair upgraded 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 five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

HCI Group Company Profile

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.