HCI Group (NYSE:HCI) Shares Down 4.3% - Here's Why

HCI Group, Inc. (NYSE:HCI - Get Free Report) shares dropped 4.3% on Monday . The stock traded as low as $160.99 and last traded at $161.22. Approximately 8,478 shares traded hands during trading, a decline of 94% from the average daily volume of 137,312 shares. The stock had previously closed at $168.39.

Wall Street Analysts Forecast Growth

HCI has been the subject of several research analyst reports. JMP Securities lifted their price objective on HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, May 19th. Compass Point upgraded HCI Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $148.00 to $205.00 in a report on Friday, May 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $181.25.

HCI Group Trading Down 4.0%

The firm has a market capitalization of $1.87 billion, a P/E ratio of 13.50 and a beta of 1.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50 day simple moving average of $153.26 and a two-hundred day simple moving average of $133.76.

HCI Group (NYSE:HCI - Get Free Report) last released its earnings results on Thursday, May 8th. The insurance provider reported $5.35 earnings per share for the quarter, beating analysts' consensus estimates of $4.49 by $0.86. The firm had revenue of $216.43 million for the quarter, compared to analysts' expectations of $214.89 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. Equities research analysts forecast that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, May 16th. HCI Group's payout ratio is currently 15.47%.

Institutional Investors Weigh In On HCI Group

Large investors have recently made changes to their positions in the business. Caxton Associates LLP purchased a new stake in shares of HCI Group during the first quarter valued at $491,000. Millennium Management LLC increased its position in HCI Group by 78.7% in the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock worth $15,278,000 after purchasing an additional 45,097 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in HCI Group by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider's stock valued at $736,000 after buying an additional 228 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of HCI Group by 69.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,718 shares of the insurance provider's stock worth $555,000 after purchasing an additional 1,527 shares during the period. Finally, Hancock Whitney Corp purchased a new position in HCI Group during the 1st quarter valued at $218,000. 86.99% of the stock is currently owned by institutional investors.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.

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