Insider Buying: HCI Group, Inc. (NYSE:HCI) CEO Buys 500 Shares of Stock

HCI Group, Inc. (NYSE:HCI - Get Free Report) CEO Paresh Patel acquired 500 shares of the stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $111.00 per share, with a total value of $55,500.00. Following the transaction, the chief executive officer now directly owns 349,500 shares of the company's stock, valued at approximately $38,794,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Paresh Patel also recently made the following trade(s):

• On Tuesday, April 9th, Paresh Patel acquired 1,000 shares of HCI Group stock. The shares were purchased at an average cost of $114.90 per share, with a total value of $114,900.00.

HCI Group Stock Down 2.0 %

Shares of NYSE:HCI traded down $2.23 on Thursday, hitting $110.65. 111,251 shares of the company traded hands, compared to its average volume of 134,724. HCI Group, Inc. has a 52 week low of $48.08 and a 52 week high of $121.57. The stock has a 50 day simple moving average of $104.89 and a 200-day simple moving average of $86.31. The company has a market cap of $1.10 billion, a PE ratio of 14.64 and a beta of 1.14. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping the consensus estimate of $1.41 by $1.81. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. The company had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. During the same period last year, the company earned $0.06 EPS. As a group, research analysts expect that HCI Group, Inc. will post 10.33 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.60 annualized dividend and a yield of 1.45%. HCI Group's payout ratio is 21.16%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. 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. William Blair upgraded HCI Group from a "market perform" rating to an "outperform" rating in a report on Friday, March 8th. Truist Financial raised their price target on HCI Group from $96.00 to $112.00 and gave the company a "buy" rating in a report on Friday, January 12th. Finally, Compass Point raised their price target on HCI Group from $90.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.33.

Institutional Investors Weigh In On HCI Group

Large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of HCI Group by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,077,392 shares of the insurance provider's stock valued at $66,561,000 after purchasing an additional 4,127 shares during the period. Vanguard Group Inc. grew its stake in shares of HCI Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 558,696 shares of the insurance provider's stock valued at $38,092,000 after purchasing an additional 21,054 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of HCI Group by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 380,933 shares of the insurance provider's stock valued at $25,972,000 after purchasing an additional 9,798 shares during the period. Voya Investment Management LLC grew its stake in shares of HCI Group by 14.0% during the 4th quarter. Voya Investment Management LLC now owns 305,506 shares of the insurance provider's stock valued at $26,701,000 after purchasing an additional 37,465 shares during the period. Finally, State Street Corp grew its stake in shares of HCI Group by 3.8% during the 2nd quarter. State Street Corp now owns 221,412 shares of the insurance provider's stock valued at $15,003,000 after purchasing an additional 8,145 shares during the period. 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.