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

HCI Group, Inc. (NYSE:HCI) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,210,000 shares, a growth of 7.1% from the September 30th total of 1,130,000 shares. Currently, 14.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 158,200 shares, the short-interest ratio is presently 7.6 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on HCI. StockNews.com downgraded HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Compass Point restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, HCI Group presently has an average rating of “Moderate Buy” and a consensus target price of $129.25.

HCI Group Price Performance

Shares of NYSE HCI traded up $1.03 during mid-day trading on Friday, hitting $114.34. 1,574 shares of the company’s stock traded hands, compared to its average volume of 144,668. The company has a market capitalization of $1.20 billion, a P/E ratio of 8.86 and a beta of 1.13. HCI Group has a 1 year low of $61.23 and a 1 year high of $124.00. The company’s 50-day moving average is $106.04 and its two-hundred day moving average is $100.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.63. The firm had revenue of $206.25 million during the quarter, compared to analyst estimates of $196.67 million. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. During the same quarter last year, the business earned $1.22 EPS. On average, equities analysts anticipate that HCI Group will post 6.15 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, November 15th. HCI Group’s dividend payout ratio is currently 12.51%.

Hedge Funds Weigh In On HCI Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in HCI Group in the first quarter worth approximately $407,000. State of Alaska Department of Revenue grew its stake in shares of HCI Group by 12.2% during the first quarter. State of Alaska Department of Revenue now owns 4,152 shares of the insurance provider’s stock worth $481,000 after acquiring an additional 453 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in HCI Group during the 1st quarter worth approximately $269,000. Principal Financial Group Inc. increased its position in shares of HCI Group by 45.0% in the 1st quarter. Principal Financial Group Inc. now owns 45,387 shares of the insurance provider’s stock valued at $5,269,000 after acquiring an additional 14,086 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of HCI Group by 271.1% in the first quarter. BNP Paribas Financial Markets now owns 30,783 shares of the insurance provider’s stock valued at $3,573,000 after purchasing an additional 22,489 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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.