JMP Securities Maintains HCI Group Inc to Market Outperform with Price Target $38.00

Brokerage firm JMP Securities Maintains its rating on HCI Group Inc(NYSE:HCI). In a research note issued to the investors, the brokerage major Lowers the price-target to $38.00 per share. The shares have been rated Market Outperform. The rating by JMP Securities was issued on Aug 3, 2016.

HCI Group Inc (HCI) shares turned negative on Fridays trading session with the shares closing down -0.34 points or -1.07% at a volume of 89,877. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $32.1. The peak price level was also seen at $32.1 while the days lowest was $31.46. Finally the shares closed at $31.48. The 52-week high of the shares is $45.4991 while the 52-week low is $26.43. According to the latest information available, the market cap of the company is $327 M.

HCI Group Inc has also declared a cash dividend of $0.3000 on Jul 13, 2016. The shares will quote ex-dividend on Aug 17, 2016 and the record date has been fixed on Aug 19, 2016. The dividend payable date has been fixed on Sep 16, 2016.

HCI Group Inc(HCI) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $58.53M. Analysts had an estimated revenue of $64.86M. Earnings per share were $0.71. Analysts had estimated an EPS of $1.05.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2016, Martin A Traber (director) sold 6,000 shares at $31.50 per share price.Also, On Feb 5, 2016, Paresh Patel (Chief Executive Officer) purchased 61 shares at $31.83 per share price.On Dec 21, 2015, Andrew L. Graham (GC/Corporate Secretary) purchased 300 shares at $33.00 per share price, according to the Form-4 filing with the securities and exchange commission.

HCI Group Inc. (HCI) is a holding company. The Company’s operations include Insurance Operations which offers property and casualty insurance and reinsurance and Other Operations which include IT and real estate. Property and Casualty Insurance business is managed by its subsidiary Homeowners Choice Property & Casualty Insurance Company Inc. (HCPCI). Through HCPCI the Company provides property and casualty insurance to homeowners condominium owners and tenants residing in Florida. The Company manages its reinsurance business through its Bermuda domiciled wholly owned subsidiary Claddaugh Casualty Insurance Company Ltd. (Claddaugh). HCI’s IT operations include a team of experienced software developers with knowledge in developing Web-based products and applications for mobile devices. The Company’s real estate operations consist of several properties it owns including the headquarters building in Tampa Florida and a secondary insurance operations site in Ocala Florida.

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