Paresh Patel Acquires 500 Shares of HCI Group, Inc. (NYSE:HCI) Stock

HCI Group, Inc. (NYSE:HCI) CEO Paresh Patel bought 500 shares of the stock in a transaction on Thursday, April 11th. The stock was purchased at an average price of $111.00 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paresh Patel also recently made the following trade(s):

• On Tuesday, April 9th, Paresh Patel bought 1,000 shares of HCI Group stock. The stock was purchased at an average price of $114.90 per share, with a total value of $114,900.00.

HCI Group Trading Down 1.2 %

NYSE HCI opened at $109.33 on Friday. The company has a market capitalization of $1.09 billion, a PE ratio of 14.46 and a beta of 1.14. The company has a fifty day moving average of $105.28 and a 200 day moving average of $86.48. HCI Group, Inc. has a 1 year low of $48.08 and a 1 year high of $121.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. The company had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same period in the previous year, the firm posted $0.06 earnings per share. Research analysts forecast that HCI Group, Inc. will post 10.33 earnings per share for the current year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.46%. HCI Group’s dividend payout ratio is presently 21.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in HCI Group by 0.4% in the second quarter. BlackRock Inc. now owns 1,077,392 shares of the insurance provider’s stock valued at $66,561,000 after buying an additional 4,127 shares in the last quarter. Vanguard Group Inc. increased its holdings in HCI Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 558,696 shares of the insurance provider’s stock valued at $38,092,000 after buying an additional 21,054 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in HCI Group by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 380,933 shares of the insurance provider’s stock valued at $25,972,000 after buying an additional 9,798 shares in the last quarter. Voya Investment Management LLC increased its holdings in HCI Group by 14.0% in the fourth quarter. Voya Investment Management LLC now owns 305,506 shares of the insurance provider’s stock valued at $26,701,000 after buying an additional 37,465 shares in the last quarter. Finally, State Street Corp increased its holdings in HCI Group by 3.8% in the second quarter. State Street Corp now owns 221,412 shares of the insurance provider’s stock valued at $15,003,000 after buying an additional 8,145 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on HCI. Compass Point raised their target price on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a research note on Friday, April 5th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. Finally, Truist Financial lifted their price objective on shares of HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.33.

About HCI Group

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.