Equities Analysts Issue Forecasts for HCI Group, Inc.’s Q3 2017 Earnings (HCI)

HCI Group, Inc. (NYSE:HCI) – Stock analysts at SunTrust Banks cut their Q3 2017 earnings estimates for shares of HCI Group in a research note issued to investors on Tuesday. SunTrust Banks analyst M. Hughes now expects that the insurance provider will earn ($2.66) per share for the quarter, down from their prior forecast of $0.60. SunTrust Banks currently has a “Buy” rating and a $52.00 target price on the stock. SunTrust Banks also issued estimates for HCI Group’s FY2017 earnings at $0.17 EPS.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. HCI Group had a return on equity of 15.65% and a net margin of 13.52%. The business had revenue of $67.58 million during the quarter, compared to the consensus estimate of $64.33 million. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis.

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A number of other research firms have also issued reports on HCI. Zacks Investment Research lowered HCI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub lowered HCI Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 13th. Finally, Sidoti upgraded HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. HCI Group presently has a consensus rating of “Hold” and a consensus target price of $45.75.

Shares of HCI Group (NYSE:HCI) opened at 38.14 on Thursday. The stock has a market cap of $380.87 million, a PE ratio of 10.50 and a beta of 2.37. HCI Group has a 1-year low of $24.35 and a 1-year high of $50.93. The company’s 50-day moving average price is $39.07 and its 200 day moving average price is $44.12.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 16th. This represents a $1.40 dividend on an annualized basis and a yield of 3.67%. HCI Group’s dividend payout ratio (DPR) is presently 38.36%.

In other news, CEO Paresh Patel bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was bought at an average price of $36.06 per share, for a total transaction of $36,060.00. Following the transaction, the chief executive officer now owns 227,000 shares in the company, valued at $8,185,620. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 1,565 shares of company stock valued at $56,894. 20.37% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Navellier & Associates Inc grew its position in shares of HCI Group by 8.9% in the 2nd quarter. Navellier & Associates Inc now owns 55,950 shares of the insurance provider’s stock worth $2,629,000 after acquiring an additional 4,568 shares in the last quarter. State Street Corp grew its position in shares of HCI Group by 0.7% in the 2nd quarter. State Street Corp now owns 210,029 shares of the insurance provider’s stock worth $9,864,000 after acquiring an additional 1,542 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of HCI Group in the 2nd quarter worth approximately $794,000. Goldman Sachs Group Inc. grew its position in shares of HCI Group by 15.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 20,500 shares of the insurance provider’s stock worth $963,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Numeric Investors LLC grew its position in shares of HCI Group by 8.4% in the 2nd quarter. Numeric Investors LLC now owns 112,050 shares of the insurance provider’s stock worth $5,264,000 after acquiring an additional 8,637 shares in the last quarter. Institutional investors own 71.47% of the company’s stock.

HCI Group Company Profile

HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.

Earnings History and Estimates for HCI Group (NYSE:HCI)

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