Paresh Patel Acquires 1,000 Shares of HCI Group, Inc. (NYSE:HCI) Stock

HCI Group, Inc. (NYSE:HCI - Get Free Report) CEO Paresh Patel bought 1,000 shares of HCI Group stock in a transaction dated Tuesday, April 9th. The stock was acquired at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the transaction, the chief executive officer now directly owns 349,000 shares in the company, valued at $40,100,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

HCI Group Stock Down 2.3 %

Shares of HCI stock traded down $2.65 during mid-day trading on Wednesday, hitting $112.68. The company's stock had a trading volume of 166,542 shares, compared to its average volume of 135,064. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. HCI Group, Inc. has a 52-week low of $48.08 and a 52-week high of $121.57. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 14.90 and a beta of 1.14. The business has a 50-day moving average price of $104.43 and a 200 day moving average price of $86.12.

HCI Group (NYSE:HCI - Get Free Report) last posted its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The business had revenue of $162.67 million for the quarter, compared to analysts' expectations of $146.09 million. During the same quarter in the prior year, the business earned $0.06 EPS. Research analysts predict that HCI Group, Inc. will post 10.33 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 16th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. HCI Group's dividend payout ratio is currently 21.16%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Compass Point upped their price target on HCI Group from $90.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. William Blair upgraded HCI Group from a "market perform" rating to an "outperform" rating in a report on Friday, March 8th. Truist Financial upped their price target on shares of HCI Group from $96.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, January 12th. Finally, Oppenheimer reissued an "outperform" rating and set a $140.00 price objective on shares of HCI Group in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $125.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HCI. Quadrature Capital Ltd increased its stake in shares of HCI Group by 55.8% in the 4th quarter. Quadrature Capital Ltd now owns 29,844 shares of the insurance provider's stock worth $2,610,000 after purchasing an additional 10,693 shares in the last quarter. Vanguard Group Inc. increased its position in HCI Group by 12.0% in the fourth quarter. Vanguard Group Inc. now owns 468,714 shares of the insurance provider's stock worth $40,966,000 after buying an additional 50,201 shares in the last quarter. Wellington Management Group LLP purchased a new stake in HCI Group in the fourth quarter worth about $5,633,000. Goldman Sachs Group Inc. raised its stake in shares of HCI Group by 7.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 30,513 shares of the insurance provider's stock worth $2,667,000 after buying an additional 2,167 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of HCI Group by 375.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 9,770 shares of the insurance provider's stock valued at $853,000 after buying an additional 7,716 shares in the last quarter. 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.