Notable News to Focus: HCI Group (NYSE:HCI)

HCI Group (NYSE:HCI) changed -0.02% to recent value of $45.96. The stock transacted 33318 shares during most recent day however it has an average volume of 48.30K shares. It spotted trading -10.41% off 52-week high price. On the other end, the stock has been noted 25.16% away from the low price over the last 52-weeks.

On Jan. 13, 2020, HCI Group (NYSE:HCI) declared that its wholly-owned insurance subsidiary, Homeowners Choice Property & Casualty Insurance Company, has reached a preliminary agreement to acquire all the insurance policies of Anchor Property & Casualty Insurance Company.

Anchor is a Florida-based provider of homeowners insurance. According to reports filed with insurance regulators, at June 30, 2019 Anchor had 43,209 policies in force representing approximately $69 million in annualized premium. HCI did not disclose a purchase price.

About HCI Group

HCI Group is an InsurTech company with operations in insurance, software development and real estate. HCI’s leading insurance operation, TypTap Insurance Company, is a rapidly growing, technology-driven insurance company, which provides homeowners’ insurance and flood insurance primarily in Florida. TypTap’s operations are powered in large part by insurance-related information technology developed by HCI’s software subsidiary, Exzeo USA HCI’s largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, provides homeowners’ insurance primarily in Florida. HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

HCI has an operating margin of 22.00% while its profit margin remained 10.90% for the last 12 months. Its earnings per share (EPS) expected to touch remained 355.90% for this year while earning per share for the next 5-years is expected to reach at 25.00%.

The company has 7.91M of outstanding shares and 6.18M shares were floated in the market.  The price moved ahead of 1.03% from the mean of 20 days, 0.91% from mean of 50 days SMA and performed 8.37% from mean of 200 days price. Company’s performance for the week was 5.66%, -2.83% for month and YTD performance remained 0.68%.

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