HCI Group (NYSE:HCI) announced that its board has authorized a share repurchase plan, which allows the company to repurchase $20.00 million in outstanding shares on Wednesday, December 6th, EventVestor reports. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

A number of equities research analysts recently weighed in on the company. ValuEngine upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. TheStreet cut HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Sidoti upgraded HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, September 11th. Finally, Zacks Investment Research upgraded HCI Group from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.33.

HCI Group (HCI) opened at $30.12 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.61 and a quick ratio of 0.61. HCI Group has a 12-month low of $27.11 and a 12-month high of $50.93.

HCI Group (NYSE:HCI) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($4.44) earnings per share for the quarter, missing the consensus estimate of ($2.52) by ($1.92). The firm had revenue of $44.00 million for the quarter, compared to the consensus estimate of $66.46 million. HCI Group had a negative return on equity of 6.34% and a negative net margin of 5.63%. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. equities research analysts anticipate that HCI Group will post -0.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, November 16th. HCI Group’s payout ratio is -74.07%.

In related news, CEO Paresh Patel purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were bought at an average price of $36.06 per share, for a total transaction of $36,060.00. Following the completion of the transaction, the chief executive officer now owns 227,000 shares of the company’s stock, valued at $8,185,620. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Macchiarola purchased 6,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average price of $30.44 per share, for a total transaction of $182,640.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,565 shares of company stock worth $239,534 in the last quarter. Company insiders own 20.37% of the company’s stock.

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HCI Group Company Profile

HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.

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