SunTrust Banks Weighs in on HCI Group Inc’s Q4 2019 Earnings (NYSE:HCI)

HCI Group Inc (NYSE:HCI) – Equities researchers at SunTrust Banks reduced their Q4 2019 EPS estimates for shares of HCI Group in a research note issued on Thursday, October 17th. SunTrust Banks analyst M. Hughes now forecasts that the insurance provider will earn $1.04 per share for the quarter, down from their prior forecast of $1.18. SunTrust Banks also issued estimates for HCI Group’s Q1 2020 earnings at $1.07 EPS, Q2 2020 earnings at $1.11 EPS, Q4 2020 earnings at $1.18 EPS and FY2020 earnings at $3.95 EPS.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.03. HCI Group had a return on equity of 7.95% and a net margin of 6.63%. The business had revenue of $58.63 million during the quarter, compared to analyst estimates of $55.26 million.

Several other brokerages have also issued reports on HCI. ValuEngine upgraded HCI Group from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered HCI Group from a “hold” rating to a “sell” rating in a research report on Tuesday.

Shares of HCI opened at $41.21 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day simple moving average of $41.87 and a 200 day simple moving average of $41.37. HCI Group has a 52-week low of $36.72 and a 52-week high of $59.32. The firm has a market capitalization of $339.39 million, a PE ratio of 12.76 and a beta of 0.71.

In other HCI Group news, CFO James Mark Harmsworth sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $41.10, for a total transaction of $226,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.12% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its position in HCI Group by 108.8% during the 2nd quarter. Bank of Montreal Can now owns 1,094 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 570 shares during the last quarter. Assetmark Inc. boosted its position in HCI Group by 412.2% during the 2nd quarter. Assetmark Inc. now owns 2,259 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 1,818 shares during the last quarter. State of Alaska Department of Revenue boosted its position in HCI Group by 119.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,028 shares of the insurance provider’s stock worth $211,000 after acquiring an additional 2,740 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in HCI Group during the 2nd quarter worth approximately $212,000. Finally, Aperio Group LLC boosted its position in HCI Group by 10.7% during the 2nd quarter. Aperio Group LLC now owns 6,331 shares of the insurance provider’s stock worth $256,000 after acquiring an additional 613 shares during the last quarter. 61.92% of the stock is owned by hedge funds and other institutional investors.

About HCI Group

HCI Group, Inc engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.

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Earnings History and Estimates for HCI Group (NYSE:HCI)

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