HCI Group, Inc. (NYSE:HCI) Short Interest Down 6.3% in March

HCI Group, Inc. (NYSE:HCI) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 964,700 shares, a decline of 6.3% from the March 15th total of 1,030,000 shares. Approximately 13.0% of the company’s shares are sold short. Based on an average trading volume of 134,000 shares, the days-to-cover ratio is currently 7.2 days.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HCI shares. Truist Financial boosted their price target on HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 12th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price target on shares of HCI Group in a research note on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 target price on shares of HCI Group in a research report on Friday, April 5th. William Blair raised HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Finally, Compass Point upped their target price on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Insider Buying and Selling

In related news, insider Anthony Saravanos sold 12,967 shares of HCI Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $117.01, for a total value of $1,517,268.67. Following the transaction, the insider now directly owns 67,033 shares of the company’s stock, valued at $7,843,531.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Anthony Saravanos sold 12,967 shares of HCI Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $117.01, for a total value of $1,517,268.67. Following the transaction, the insider now directly owns 67,033 shares of the company’s stock, valued at $7,843,531.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paresh Patel acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average cost of $111.00 per share, for a total transaction 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 $38,794,500. The disclosure for this purchase can be found here. Insiders have sold a total of 113,102 shares of company stock valued at $13,198,303 over the last ninety days. 25.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Range Financial Group LLC increased its position in shares of HCI Group by 34.8% during the 1st quarter. Range Financial Group LLC now owns 9,054 shares of the insurance provider’s stock valued at $1,051,000 after purchasing an additional 2,339 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of HCI Group by 55.8% during the 4th quarter. Quadrature Capital Ltd now owns 29,844 shares of the insurance provider’s stock valued at $2,610,000 after purchasing an additional 10,693 shares during the last quarter. Vanguard Group Inc. increased its position in shares of HCI Group by 12.0% during the 4th quarter. Vanguard Group Inc. now owns 468,714 shares of the insurance provider’s stock valued at $40,966,000 after purchasing an additional 50,201 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of HCI Group during the 4th quarter valued at $5,633,000. Finally, Goldman Sachs Group Inc. increased its position in shares of HCI Group by 7.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 30,513 shares of the insurance provider’s stock valued at $2,667,000 after purchasing an additional 2,167 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Trading Down 1.7 %

Shares of HCI Group stock opened at $109.95 on Thursday. The stock has a fifty day simple moving average of $106.79 and a 200 day simple moving average of $88.30. HCI Group has a 12-month low of $48.08 and a 12-month high of $121.57. The company has a market capitalization of $1.10 billion, a P/E ratio of 14.54 and a beta of 1.14. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, sell-side analysts anticipate that HCI Group will post 10.33 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.60 annualized dividend and a yield of 1.46%. HCI Group’s dividend payout ratio (DPR) is currently 21.16%.

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.