HCI Group, Inc. (NYSE:HCI) Sees Significant Growth in Short Interest

HCI Group, Inc. (NYSE:HCIGet Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,030,000 shares, an increase of 7.1% from the February 29th total of 962,100 shares. Based on an average daily volume of 130,600 shares, the short-interest ratio is currently 7.9 days. Currently, 14.2% of the shares of the stock are sold short.

Insider Activity at HCI Group

In other HCI Group news, COO Karin Sue Coleman sold 23,000 shares of HCI Group stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $115.62, for a total value of $2,659,260.00. Following the transaction, the chief operating officer now owns 23,137 shares in the company, valued at $2,675,099.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Andrew L. Graham sold 800 shares of HCI Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares in the company, valued at $6,709,284.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Karin Sue Coleman sold 23,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $115.62, for a total value of $2,659,260.00. Following the transaction, the chief operating officer now directly owns 23,137 shares in the company, valued at $2,675,099.94. The disclosure for this sale can be found here. Insiders sold a total of 60,061 shares of company stock valued at $7,003,128 over the last ninety days. Insiders own 25.25% of the company’s stock.

Institutional Investors Weigh In On HCI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCI. GSA Capital Partners LLP lifted its stake in shares of HCI Group by 100.6% in the third quarter. GSA Capital Partners LLP now owns 21,527 shares of the insurance provider’s stock worth $1,169,000 after buying an additional 10,797 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of HCI Group by 253.1% in the third quarter. Quadrature Capital Ltd now owns 19,151 shares of the insurance provider’s stock worth $1,039,000 after purchasing an additional 13,728 shares during the period. Barclays PLC lifted its position in shares of HCI Group by 54.7% during the 3rd quarter. Barclays PLC now owns 4,962 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 1,754 shares during the last quarter. Cedar Brook Financial Partners LLC bought a new stake in HCI Group during the 4th quarter valued at approximately $201,000. Finally, Hsbc Holdings PLC bought a new stake in HCI Group during the 3rd quarter valued at approximately $482,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Price Performance

NYSE HCI opened at $115.18 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.15 billion, a PE ratio of 15.24 and a beta of 1.14. HCI Group has a 12-month low of $48.08 and a 12-month high of $121.57. The company has a 50 day moving average price of $101.71 and a two-hundred day moving average price of $83.44.

HCI Group (NYSE:HCIGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The firm had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. During the same period in the prior year, the company posted $0.06 earnings per share. As a group, equities analysts predict that HCI Group will post 10.22 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Thursday, February 15th. HCI Group’s payout ratio is 21.16%.

Wall Street Analyst Weigh In

HCI has been the topic of a number of research reports. Compass Point upped their target price on HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. Truist Financial increased their target price on shares of HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Finally, Oppenheimer restated an “outperform” rating and set a $140.00 price target on shares of HCI Group in a report on Wednesday, March 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.33.

Read Our Latest Stock Report on HCI Group

About HCI Group

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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.

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