Zacks Investment Research cut shares of HCI Group (NYSE:HCI) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

HCI has been the topic of several other reports. TheStreet upgraded shares of HCI Group from a c rating to a b- rating in a report on Wednesday, November 7th. Keefe, Bruyette & Woods lowered shares of HCI Group from a market perform rating to an underperform rating in a report on Thursday, December 13th. Finally, JMP Securities boosted their price objective on shares of HCI Group from $48.00 to $50.00 and gave the company a market outperform rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $53.50.

Shares of NYSE HCI traded down $0.63 during trading on Tuesday, hitting $47.62. 6,548 shares of the company were exchanged, compared to its average volume of 91,337. HCI Group has a 12-month low of $33.26 and a 12-month high of $59.32. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.29. The firm has a market cap of $445.29 million, a PE ratio of -63.49 and a beta of 1.26.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Tuesday, November 6th. The insurance provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.41. The firm had revenue of $61.74 million for the quarter, compared to analyst estimates of $59.26 million. HCI Group had a net margin of 15.96% and a return on equity of 21.65%. Research analysts expect that HCI Group will post 3.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Friday, November 16th were issued a $0.375 dividend. The ex-dividend date was Thursday, November 15th. This represents a $1.50 annualized dividend and a yield of 3.15%. HCI Group’s dividend payout ratio (DPR) is currently -200.00%.

In related news, Director George Apostolou acquired 500 shares of HCI Group stock in a transaction that occurred on Wednesday, December 5th. The shares were purchased at an average cost of $53.79 per share, for a total transaction of $26,895.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $968,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paresh Patel acquired 1,000 shares of HCI Group stock in a transaction that occurred on Monday, November 26th. The stock was bought at an average price of $52.91 per share, for a total transaction of $52,910.00. Following the completion of the acquisition, the chief executive officer now owns 85,000 shares in the company, valued at approximately $4,497,350. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,765 shares of company stock worth $199,233. 22.31% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC grew its position in HCI Group by 97.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 38,176 shares of the insurance provider’s stock valued at $1,670,000 after acquiring an additional 18,810 shares in the last quarter. Sterling Capital Management LLC acquired a new position in HCI Group in the 2nd quarter valued at about $837,000. Deutsche Bank AG grew its position in HCI Group by 0.6% in the 3rd quarter. Deutsche Bank AG now owns 595,132 shares of the insurance provider’s stock valued at $26,035,000 after acquiring an additional 3,341 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in HCI Group in the 3rd quarter valued at about $540,000. Finally, BlackRock Inc. grew its position in HCI Group by 4.2% in the 2nd quarter. BlackRock Inc. now owns 1,111,321 shares of the insurance provider’s stock valued at $46,198,000 after acquiring an additional 44,444 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

HCI Group Company Profile

HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.

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