HCI Group (NYSE:HCI) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of HCI Group (NYSE:HCI) from a hold rating to a strong sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

A number of other equities research analysts also recently weighed in on the stock. TheStreet downgraded shares of Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. ValuEngine cut Welbilt from a hold rating to a sell rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $48.33.

HCI opened at $39.89 on Wednesday. HCI Group has a fifty-two week low of $36.72 and a fifty-two week high of $59.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.57 and a quick ratio of 0.57. The business’s fifty day simple moving average is $40.97. The firm has a market capitalization of $339.17 million, a P/E ratio of 20.99 and a beta of 0.76.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.40). HCI Group had a return on equity of 8.44% and a net margin of 6.13%. The business had revenue of $60.63 million for the quarter, compared to analyst estimates of $56.43 million. On average, analysts forecast that HCI Group will post 2.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.01%. HCI Group’s payout ratio is presently 49.54%.

In related news, Director Loreen M. Spencer acquired 950 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $41.13 per share, with a total value of $39,073.50. Following the completion of the acquisition, the director now owns 950 shares in the company, valued at $39,073.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 22.31% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. 6 Meridian increased its position in HCI Group by 3.3% in the second quarter. 6 Meridian now owns 14,600 shares of the insurance provider’s stock worth $591,000 after purchasing an additional 466 shares during the period. Meeder Asset Management Inc. increased its position in HCI Group by 19,900.0% in the first quarter. Meeder Asset Management Inc. now owns 600 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 597 shares during the period. Macquarie Group Ltd. increased its position in HCI Group by 3.5% in the fourth quarter. Macquarie Group Ltd. now owns 17,900 shares of the insurance provider’s stock worth $909,000 after purchasing an additional 600 shares during the period. Great West Life Assurance Co. Can increased its position in HCI Group by 9.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 10,360 shares of the insurance provider’s stock worth $486,000 after purchasing an additional 917 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in HCI Group by 175.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,516 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 966 shares during the period. 61.33% of the stock is owned by institutional investors and hedge funds.

HCI Group Company Profile

HCI Group, Inc engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.

See Also: Quiet Period Expirations

Get a free copy of the Zacks research report on HCI Group (HCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for HCI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCI Group and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit