HCI Group, Inc. (NYSE:HCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

Other equities research analysts have also issued research reports about the company. TheStreet raised HCI Group from a “c” rating to a “b-” rating in a research note on Thursday, May 4th. SunTrust Banks, Inc. initiated coverage on HCI Group in a research note on Tuesday, July 4th. They set a “buy” rating and a $52.00 price target on the stock. Keefe, Bruyette & Woods reissued a “hold” rating on shares of HCI Group in a research note on Monday, May 15th. Finally, ValuEngine raised HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.25.

HCI Group (NYSE HCI) traded down 0.15% during midday trading on Wednesday, reaching $46.25. The company’s stock had a trading volume of 40,572 shares. The firm’s 50-day moving average price is $45.55 and its 200-day moving average price is $44.12. HCI Group has a 52 week low of $24.35 and a 52 week high of $50.93. The stock has a market capitalization of $456.21 million, a PE ratio of 13.43 and a beta of 2.37.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Wednesday, August 16th. HCI Group’s dividend payout ratio is presently 40.82%.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank raised its position in shares of HCI Group by 4.3% in the fourth quarter. Comerica Bank now owns 9,045 shares of the insurance provider’s stock worth $356,000 after buying an additional 377 shares in the last quarter. State Street Corp raised its position in shares of HCI Group by 7.7% in the fourth quarter. State Street Corp now owns 197,142 shares of the insurance provider’s stock worth $7,785,000 after buying an additional 14,102 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of HCI Group by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 677,682 shares of the insurance provider’s stock worth $26,754,000 after buying an additional 65,148 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of HCI Group by 40.0% in the fourth quarter. Federated Investors Inc. PA now owns 34,540 shares of the insurance provider’s stock worth $1,364,000 after buying an additional 9,877 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in shares of HCI Group during the fourth quarter worth $247,000. 76.46% of the stock is currently owned by institutional investors.

About HCI Group

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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