Homeowners Choice (HCI) Downgraded by TheStreet to C

TheStreet lowered shares of Homeowners Choice (NYSE:HCI) from a b- rating to a c rating in a research note published on Wednesday morning.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Homeowners Choice from a hold rating to a buy rating and set a $40.00 price objective for the company in a report on Tuesday, February 6th. ValuEngine upgraded Homeowners Choice from a sell rating to a hold rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $42.50.

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Shares of HCI stock opened at $38.09 on Wednesday. Homeowners Choice has a twelve month low of $27.11 and a twelve month high of $49.25. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $367.82, a price-to-earnings ratio of -31.43 and a beta of 2.16.

Homeowners Choice (NYSE:HCI) last issued its quarterly earnings data on Tuesday, March 6th. The insurance provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.82 by $0.32. Homeowners Choice had a negative return on equity of 3.21% and a negative net margin of 2.82%. The firm had revenue of $61.62 million during the quarter, compared to analyst estimates of $62.98 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. sell-side analysts expect that Homeowners Choice will post 3.73 earnings per share for the current year.

Homeowners Choice declared that its board has initiated a stock repurchase plan on Wednesday, December 6th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 16th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, February 15th. Homeowners Choice’s payout ratio is -114.75%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in shares of Homeowners Choice in the 4th quarter valued at $130,000. Crossmark Global Holdings Inc. acquired a new position in shares of Homeowners Choice in the 3rd quarter valued at $202,000. First Trust Advisors LP acquired a new position in shares of Homeowners Choice in the 3rd quarter valued at $244,000. Ellington Management Group LLC acquired a new position in shares of Homeowners Choice in the 4th quarter valued at $209,000. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Homeowners Choice by 155.7% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,850 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 4,780 shares during the period. 68.07% of the stock is currently owned by hedge funds and other institutional investors.

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About Homeowners Choice

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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