Homeowners Choice Downgraded to Neutral at Gilford Securities (HCI)
Homeowners Choice (NYSE:HCI) was downgraded by investment analysts at Gilford Securities from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, StockRatingsNetwork.com reports. They currently have a $45.60 price objective on the stock, up from their previous price objective of $44.50. Gilford Securities’ price target points to a potential upside of 3.28% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of Homeowners Choice (NYSE:HCI) traded up 0.50% on Thursday, hitting $44.37. The stock had a trading volume of 152,180 shares. Homeowners Choice has a one year low of $18.29 and a one year high of $37.94. The stock has a 50-day moving average of $34.41 and a 200-day moving average of $30.62. The company has a market cap of $507.1 million and a price-to-earnings ratio of 9.48.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 20th. Shareholders of record on Friday, November 15th will be given a dividend of $0.28 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Homeowners Choice’s previous quarterly dividend of $0.23.
Separately, analysts at Zacks reiterated a “hold” rating on shares of Homeowners Choice in a research note to investors on Friday, August 30th. They now have a $38.50 price target on the stock.
HCI Group Inc, formerly Homeowners Choice, Inc, is a holding company. The Company, through its subsidiaries, is engaged in the property and casualty insurance business.
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