HCI Group Inc (HCI) Receives Average Recommendation of “Hold” from Brokerages
Shares of HCI Group Inc (NYSE:HCI) have been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $46.00.
Several analysts have issued reports on HCI shares. Zacks Investment Research raised HCI Group from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. ValuEngine cut HCI Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, TheStreet cut HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th.
Shares of HCI Group (HCI) opened at $35.00 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $342.37, a price-to-earnings ratio of -21.21 and a beta of 2.18. HCI Group has a 52-week low of $27.11 and a 52-week high of $50.93.
HCI Group announced that its board has authorized a share buyback program on Wednesday, December 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other HCI Group news, Director Gregory Politis acquired 4,000 shares of the stock in a transaction dated Friday, December 15th. The stock was purchased at an average price of $29.62 per share, with a total value of $118,480.00. Following the transaction, the director now directly owns 194,000 shares of the company’s stock, valued at $5,746,280. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James J. Macchiarola acquired 6,000 shares of the stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $30.44 per share, with a total value of $182,640.00. The disclosure for this purchase can be found here. Insiders bought a total of 13,000 shares of company stock valued at $391,360 in the last three months. Insiders own 20.37% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of HCI Group by 42.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,453 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 731 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of HCI Group by 11.4% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,230 shares of the insurance provider’s stock worth $152,000 after purchasing an additional 330 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of HCI Group in the 3rd quarter worth $202,000. Thrivent Financial For Lutherans boosted its position in shares of HCI Group by 3.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,950 shares of the insurance provider’s stock worth $233,000 after purchasing an additional 160 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of HCI Group in the 3rd quarter worth $244,000. 76.38% of the stock is owned by hedge funds and other institutional investors.
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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