HCI Group, Inc. (HCI) Releases Earnings Results
HCI Group, Inc. (NYSE:HCI) announced its quarterly earnings data on Thursday. The insurance provider reported ($4.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.52) by ($1.92), Briefing.com reports. HCI Group had a net margin of 13.52% and a return on equity of 15.65%. The firm had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $66.46 million. During the same period in the prior year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was down 30.5% on a year-over-year basis.
HCI Group (HCI) traded down $4.45 during midday trading on Friday, hitting $32.46. 410,819 shares of the company were exchanged, compared to its average volume of 86,292. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $324.16, a P/E ratio of 10.11 and a beta of 2.29. HCI Group has a 1 year low of $26.29 and a 1 year high of $50.93.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, November 16th. HCI Group’s dividend payout ratio (DPR) is 38.04%.
A number of brokerages have commented on HCI. Zacks Investment Research downgraded shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub downgraded shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. ValuEngine raised shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. TheStreet downgraded shares of HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Finally, Sidoti raised shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.33.
In related news, CEO Paresh Patel bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were purchased at an average cost of $36.06 per share, with a total value of $36,060.00. Following the transaction, the chief executive officer now directly owns 227,000 shares of the company’s stock, valued at approximately $8,185,620. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 1,565 shares of company stock worth $56,894 over the last ninety days. Insiders own 20.37% 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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