Homeowners Choice (HCI) Lowered to C at TheStreet
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.
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.
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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