HCI Group (NYSE:HCI) announced that its board has approved a share repurchase program, which allows the company to buyback $20.00 million in shares on Wednesday, December 6th, EventVestor reports. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

A number of analysts have commented on the stock. ValuEngine lowered shares of HCI Group from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Sidoti raised shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, September 11th. TheStreet lowered shares of HCI Group from a “b-” rating to a “c” rating in a report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of HCI Group from a “sell” rating to a “hold” rating in a report on Monday, November 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.33.

HCI Group (NYSE HCI) traded up $0.83 on Thursday, reaching $30.56. 193,700 shares of the company’s stock were exchanged, compared to its average volume of 120,149. HCI Group has a 12-month low of $27.11 and a 12-month high of $50.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.61 and a quick ratio of 0.61.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($4.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.52) by ($1.92). HCI Group had a negative net margin of 5.63% and a negative return on equity of 6.34%. The firm had revenue of $44.00 million during the quarter, compared to analyst estimates of $66.46 million. During the same period last year, the firm earned $1.10 EPS. HCI Group’s quarterly revenue was down 30.5% on a year-over-year basis. equities analysts expect that HCI Group will post -0.4 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Thursday, November 16th. HCI Group’s dividend payout ratio (DPR) is -74.07%.

In other news, Director James J. Macchiarola purchased 6,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $30.44 per share, with a total value of $182,640.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Paresh Patel purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was purchased at an average cost of $36.06 per share, with a total value of $36,060.00. Following the acquisition, the chief executive officer now directly owns 227,000 shares in the company, valued at $8,185,620. The disclosure for this purchase can be found here. Insiders bought a total of 7,565 shares of company stock valued at $239,534 in the last three months. 20.37% of the stock is owned by company insiders.

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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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