TheStreet cut shares of Homeowners Choice (NYSE:HCI) from a b- rating to a c rating in a report published on Wednesday morning.

Several other research firms have also commented on HCI. Zacks Investment Research upgraded shares of Homeowners Choice from a hold rating to a buy rating and set a $40.00 price target for the company in a research report on Tuesday, February 6th. ValuEngine upgraded shares of Homeowners Choice from a sell rating to a hold rating in a research report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Homeowners Choice presently has a consensus rating of Hold and an average price target of $42.50.

HCI stock traded down $0.12 during trading on Wednesday, hitting $38.22. 17,056 shares of the stock traded hands, compared to its average volume of 143,266. The company has a market capitalization of $367.82, a price-to-earnings ratio of -31.43 and a beta of 2.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.23. Homeowners Choice has a fifty-two week low of $27.11 and a fifty-two week high of $49.25.

Homeowners Choice (NYSE:HCI) last released its quarterly earnings results on Tuesday, March 6th. The insurance provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.82 by $0.32. The business had revenue of $61.62 million during the quarter, compared to analyst estimates of $62.98 million. Homeowners Choice had a negative net margin of 2.82% and a negative return on equity of 3.21%. The company’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. research analysts expect that Homeowners Choice will post 3.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 16th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.66%. Homeowners Choice’s dividend payout ratio is presently -114.75%.

Homeowners Choice declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Homeowners Choice by 2.5% during the 4th quarter. BlackRock Inc. now owns 1,077,636 shares of the insurance provider’s stock valued at $32,220,000 after purchasing an additional 26,015 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Homeowners Choice by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 832,371 shares of the insurance provider’s stock valued at $31,838,000 after buying an additional 21,016 shares in the last quarter. Deutsche Bank AG lifted its stake in Homeowners Choice by 1.8% during the fourth quarter. Deutsche Bank AG now owns 598,369 shares of the insurance provider’s stock valued at $17,889,000 after buying an additional 10,655 shares in the last quarter. Millennium Management LLC lifted its stake in Homeowners Choice by 15.6% during the fourth quarter. Millennium Management LLC now owns 218,861 shares of the insurance provider’s stock valued at $6,544,000 after buying an additional 29,517 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Homeowners Choice by 0.7% in the second quarter. State Street Corp now owns 210,029 shares of the insurance provider’s stock worth $9,864,000 after purchasing an additional 1,542 shares in the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.

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Homeowners Choice Company Profile

HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.

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