HCI Group (NYSE:HCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, January 3rd.

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. “

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Several other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. TheStreet cut shares of HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Finally, Sidoti raised shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, September 11th. 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 stock. HCI Group currently has an average rating of “Hold” and an average target price of $43.33.

Shares of HCI Group (HCI) traded up $0.60 during midday trading on Wednesday, reaching $35.55. 78,163 shares of the company traded hands, compared to its average volume of 178,969. HCI Group has a twelve month low of $27.11 and a twelve month high of $50.93. The company has a market cap of $347.75, a PE ratio of -21.55 and a beta of 2.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.61 and a current ratio of 0.61.

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

HCI Group declared that its board has approved a stock buyback program on Wednesday, December 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Director James J. Macchiarola purchased 6,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paresh Patel purchased 1,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were bought at an average price of $30.30 per share, with a total value of $30,300.00. Following the purchase, the chief executive officer now owns 74,000 shares in the company, valued at $2,242,200. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 13,000 shares of company stock worth $391,360. Insiders own 20.37% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Thrivent Financial For Lutherans increased its stake in shares of HCI Group by 3.3% during 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 during the last quarter. Brandywine Global Investment Management LLC increased its stake in shares of HCI Group by 11.4% during 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 during the last quarter. Citigroup Inc. increased its stake in shares of HCI Group by 5.5% during the 2nd quarter. Citigroup Inc. now owns 10,714 shares of the insurance provider’s stock worth $504,000 after purchasing an additional 557 shares during the last quarter. Legal & General Group Plc increased its stake in shares of HCI Group by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the insurance provider’s stock worth $695,000 after purchasing an additional 643 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of HCI Group by 14.3% during the 2nd quarter. Voya Investment Management LLC now owns 5,433 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 681 shares during the last quarter. Institutional investors own 75.82% of the company’s stock.

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About HCI Group

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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