HCI Group Inc (NYSE:HCI) – Investment analysts at SunTrust Banks lifted their Q1 2018 earnings estimates for shares of HCI Group in a research report issued on Thursday. SunTrust Banks analyst M. Hughes now forecasts that the insurance provider will post earnings per share of $1.04 for the quarter, up from their previous forecast of $0.90. SunTrust Banks also issued estimates for HCI Group’s Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $1.10 EPS and FY2018 earnings at $3.73 EPS.
A number of other analysts have also recently commented on HCI. ValuEngine cut shares of HCI Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded shares of HCI Group from a “sell” rating to a “hold” rating in a research note on Monday, November 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.33.
HCI Group declared that its board has approved a share repurchase program on Wednesday, December 6th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 16th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, February 15th. HCI Group’s dividend payout ratio is currently -74.07%.
In related news, Director Gregory Politis bought 2,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $29.97 per share, for a total transaction of $59,940.00. Following the purchase, the director now owns 194,000 shares in the company, valued at approximately $5,814,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paresh Patel bought 1,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were bought at an average price of $30.30 per share, with a total value of $30,300.00. Following the purchase, the chief executive officer now owns 74,000 shares in the company, valued at approximately $2,242,200. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 13,000 shares of company stock valued at $391,360. 20.37% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in HCI Group by 33.9% during the third quarter. Victory Capital Management Inc. now owns 31,400 shares of the insurance provider’s stock worth $1,201,000 after acquiring an additional 7,950 shares during the period. Cubist Systematic Strategies LLC bought a new position in HCI Group during the third quarter worth about $590,000. OxFORD Asset Management LLP increased its position in HCI Group by 7.8% during the third quarter. OxFORD Asset Management LLP now owns 62,644 shares of the insurance provider’s stock worth $2,382,000 after acquiring an additional 4,512 shares during the period. Dimensional Fund Advisors LP increased its position in HCI Group by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 832,371 shares of the insurance provider’s stock worth $31,838,000 after acquiring an additional 21,016 shares during the period. Finally, Seizert Capital Partners LLC increased its position in HCI Group by 65.2% during the third quarter. Seizert Capital Partners LLC now owns 21,303 shares of the insurance provider’s stock worth $815,000 after acquiring an additional 8,405 shares during the period. Institutional investors own 75.82% 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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