HCI Group (NYSE:HCI) Shares Down 4.7% - Here's What Happened

Shares of HCI Group, Inc. (NYSE:HCI - Get Free Report) fell 4.7% during trading on Friday . The company traded as low as $115.36 and last traded at $115.36. 31,170 shares were traded during mid-day trading, a decline of 79% from the average session volume of 146,351 shares. The stock had previously closed at $121.00.

Analyst Ratings Changes

A number of brokerages have commented on HCI. StockNews.com downgraded HCI Group from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Compass Point reiterated a "neutral" rating and issued a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research report on Monday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $145.00 price objective on shares of HCI Group in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, HCI Group has an average rating of "Moderate Buy" and an average price target of $129.25.

HCI Group Price Performance

The company has a 50-day moving average of $104.24 and a 200 day moving average of $100.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $1.22 billion, a P/E ratio of 11.81 and a beta of 1.13.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.63. The firm had revenue of $206.25 million during the quarter, compared to the consensus estimate of $196.67 million. HCI Group had a return on equity of 44.01% and a net margin of 21.63%. During the same quarter in the previous year, the company posted $1.22 EPS. On average, sell-side analysts anticipate that HCI Group, Inc. will post 12.56 EPS for the current year.

Institutional Investors Weigh In On HCI Group

Several hedge funds and other institutional investors have recently made changes to their positions in HCI. Wellington Management Group LLP acquired a new stake in shares of HCI Group during the fourth quarter worth $5,633,000. CCG Wealth Management LLC acquired a new stake in shares of HCI Group during the first quarter worth $286,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of HCI Group during the first quarter worth $407,000. State of Alaska Department of Revenue lifted its holdings in 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 in the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in HCI Group during the first quarter worth about $269,000. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Company Profile

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.