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.
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