HCI Group, Inc. (NYSE:HCI) Sees Large Growth in Short Interest

HCI Group, Inc. (NYSE:HCI) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 1,020,000 shares, an increase of 5.7% from the March 31st total of 964,700 shares. Based on an average trading volume of 138,300 shares, the days-to-cover ratio is presently 7.4 days. Currently, 13.5% of the company’s stock are short sold.

HCI Group Stock Down 0.0 %

HCI stock opened at $114.17 on Thursday. The company’s 50 day moving average is $110.37 and its 200 day moving average is $92.37. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 15.10 and a beta of 1.15. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group has a 1-year low of $48.08 and a 1-year high of $121.57.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The firm had revenue of $162.67 million for the quarter, compared to analyst estimates of $146.09 million. During the same quarter in the prior year, the firm earned $0.06 EPS. Sell-side analysts predict that HCI Group will post 10.33 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.40%. HCI Group’s payout ratio is 21.16%.

Analyst Ratings Changes

Several research analysts have commented on HCI shares. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. Compass Point boosted their price objective on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Truist Financial boosted their price objective on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th. Finally, JMP Securities restated a “market outperform” rating and set a $120.00 price target on shares of HCI Group in a research report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Insider Activity at HCI Group

In other HCI Group news, CFO James Mark Harmsworth sold 20,000 shares of HCI Group stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the transaction, the chief financial officer now owns 15,420 shares of the company’s stock, valued at approximately $1,805,990.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO James Mark Harmsworth sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the transaction, the chief financial officer now owns 15,420 shares of the company’s stock, valued at approximately $1,805,990.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paresh Patel acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average price of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the purchase, the chief executive officer now directly owns 349,000 shares in the company, valued at approximately $40,100,100. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HCI Group

Several hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of HCI Group during the 4th quarter valued at about $28,000. Quantbot Technologies LP bought a new position in HCI Group during the third quarter valued at approximately $62,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of HCI Group by 399.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,773 shares of the insurance provider’s stock worth $155,000 after acquiring an additional 1,418 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of HCI Group in the 4th quarter worth approximately $155,000. Finally, Cedar Brook Financial Partners LLC purchased a new stake in shares of HCI Group in the 4th quarter valued at $201,000. Institutional investors own 86.99% of the company’s stock.

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.