Short Interest in HCI Group, Inc. (NYSE:HCI) Declines By 6.3%

HCI Group, Inc. (NYSE:HCI - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 964,700 shares, a decline of 6.3% from the March 15th total of 1,030,000 shares. Based on an average daily volume of 134,000 shares, the short-interest ratio is presently 7.2 days. Approximately 13.0% of the shares of the company are sold short.

Insider Transactions at HCI Group

In other HCI Group news, CEO Paresh Patel bought 500 shares of the stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $111.00 per share, for a total transaction of $55,500.00. Following the purchase, 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 document filed with the SEC, which can be accessed through this link. In other news, CEO Paresh Patel acquired 500 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $111.00 per share, for a total transaction of $55,500.00. Following the purchase, the chief executive officer now owns 349,500 shares of the company's stock, valued at approximately $38,794,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Saravanos sold 20,873 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $116.78, for a total value of $2,437,548.94. Following the completion of the sale, the insider now owns 30,000 shares in the company, valued at $3,503,400. The disclosure for this sale can be found here. Insiders have sold 113,102 shares of company stock worth $13,198,303 in the last ninety days. Company insiders own 25.25% of the company's stock.

Institutional Trading of HCI Group

A number of hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in HCI Group by 80.7% in the 1st quarter. FMR LLC now owns 468 shares of the insurance provider's stock worth $25,000 after buying an additional 209 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of HCI Group by 1.3% during the second quarter. Legal & General Group Plc now owns 19,503 shares of the insurance provider's stock valued at $1,322,000 after acquiring an additional 243 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of HCI Group by 11.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the insurance provider's stock valued at $201,000 after acquiring an additional 245 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of HCI Group by 3.0% during the first quarter. Yousif Capital Management LLC now owns 8,512 shares of the insurance provider's stock valued at $580,000 after acquiring an additional 245 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in HCI Group by 112.7% in the first quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider's stock worth $33,000 after purchasing an additional 257 shares during the period. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

HCI has been the subject of a number of recent analyst reports. William Blair raised HCI Group from a "market perform" rating to an "outperform" rating in a report on Friday, March 8th. Compass Point lifted their target price on HCI Group from $90.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Truist Financial lifted their target price on HCI Group from $96.00 to $112.00 and gave the company a "buy" rating in a report on Friday, January 12th. JMP Securities reissued a "market outperform" rating and set a $120.00 price objective on shares of HCI Group in a report on Monday. Finally, Oppenheimer reissued an "outperform" rating and set a $140.00 price objective on shares of HCI Group in a report on Friday, April 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $124.00.

HCI Group Price Performance

Shares of NYSE HCI traded up $1.71 during midday trading on Tuesday, hitting $111.93. 88,288 shares of the company's stock were exchanged, compared to its average volume of 133,767. HCI Group has a 12-month low of $48.08 and a 12-month high of $121.57. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 14.81 and a beta of 1.14. The business's fifty day moving average price is $106.42 and its two-hundred day moving average price is $88.15.

HCI Group (NYSE:HCI - Get Free Report) last issued 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. The company had revenue of $162.67 million during the quarter, compared to analyst estimates of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, research analysts forecast that HCI Group will post 10.33 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were given a $0.40 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.43%. HCI Group's payout ratio is 21.16%.

HCI Group Company Profile

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.