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HCI Group, Inc. - HCI STOCK NEWS

Welcome to our dedicated page for HCI Group news (Ticker: HCI), a resource for investors and traders seeking the latest updates and insights on HCI Group stock.

HCI Group, Inc. (NYSE: HCI) is a diversified holding company headquartered in Tampa, Florida. Founded in 2006, the company operates across several sectors, including property and casualty insurance, real estate, reinsurance, and information technology. HCI Group’s primary insurance subsidiaries, Homeowners Choice Property & Casualty Insurance Company (HCPCI) and TypTap Insurance Company, specialize in homeowners insurance, flood insurance, and wind-only insurance within Florida and other states.

Through its real estate subsidiary, Greenleaf Capital, LLC, HCI manages a portfolio of properties that include office buildings, retail centers, marinas, and vacant shopping centers for investment purposes. The company also owns and operates a full-service restaurant, enhancing its real estate footprint.

HCI’s technological edge is bolstered by its subsidiary, Exzeo USA, Inc., which develops web-based applications like SAMS and ClaimColony. These tools streamline insurance processes and enhance the company's operational efficiency.

Recently, HCI has taken significant steps to fortify its financial standing. By converting debts and simplifying its balance sheet, HCI has reduced its debt-to-capital ratio and enhanced liquidity, enabling the company to pursue future business opportunities.

One of HCI Group’s noteworthy achievements is the growth of TypTap Insurance Company, a technology-driven insurance provider. TypTap leverages data and technology to streamline underwriting and claims processes, setting a precedent in the insurance industry. This innovation is supported by robust reinsurance programs that the company secures annually, ensuring financial stability and risk management.

Financially, HCI has demonstrated strong performance. For instance, in the first quarter of 2024, HCI reported a net income of $57.0 million, a significant increase from the previous year’s $17.8 million. This growth is attributed to increased gross premiums and reduced reinsurance costs as a percentage of premiums earned.

The company’s common shares are traded on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. continues to publish financial data and other updates in the Investor Information section of its website.

For more details about HCI Group, Inc. and its subsidiaries, visit www.hcigroup.com.

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HCI Group reported strong Q2 2024 results with pre-tax income of $76 million and net income of $57.1 million. Diluted earnings per share reached $4.24, up from $1.28 in Q2 2023. The company's performance was driven by solid underwriting execution and technology advantages. Key highlights include:

- Gross premiums earned increased to $263.6 million from $181.9 million in Q2 2023
- Gross loss ratio improved to 29.7% from 34.0% in Q2 2023
- Net investment income rose to $16.9 million from $8.8 million in Q2 2023

HCI Group's growth was primarily attributed to expansion in Florida and the assumption of policies from Citizens. The company's CEO, Paresh Patel, emphasized the power of their technology and plans to explore new opportunities in future periods.

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HCI Group (NYSE: HCI) announced it will host a conference call on August 8, 2024, at 4:45 p.m. ET to discuss its Q2 2024 financial results, ending June 30, 2024. The company operates in homeowners insurance, IT services, real estate, and reinsurance. Financial results will be released the same day after market close. The presentation will be followed by a Q&A session. Participants can join via a listen-only phone number or webcast on the company's website. A replay will be available after 8:00 p.m. ET on the same day.

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The board of directors of HCI Group (NYSE: HCI) has announced a regular quarterly cash dividend of 40 cents per common share. The dividend will be paid on September 20, 2024, to shareholders who are recorded as of the close of business on August 16, 2024. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors.

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HCI Group announced the completion of its 2024-2025 catastrophe reinsurance programs. The treaty year runs from June 1, 2024, to May 31, 2025. HCI secured over $2.7 billion in aggregate reinsurance limit for its two towers, covering policies in and outside Florida. This includes a $14 million retention for Reinsurance Tower 1 and a $9 million retention for Reinsurance Tower 2. The estimated net consolidated reinsurance premiums ceded to third parties are around $333.6 million, assuming no losses. The premiums are subject to adjustment at September 30, 2024.

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HCI Group, Inc. reported impressive first quarter 2024 results with a pre-tax income of $77.4 million and a diluted EPS of $3.81. Adjusted net income was $55.0 million, showing significant growth compared to the previous year. The company experienced a surge in consolidated gross premiums earned to $256.6 million, increased net investment income, and a lower gross loss ratio. HCI Group's management is optimistic about the future and plans to capitalize on their technology platform.

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HCI Group, Inc. (NYSE: HCI) has declared a quarterly cash dividend of 40 cents per common share. The dividend is set to be paid on June 21, 2024, to shareholders of record as of May 17, 2024.
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HCI Group, Inc. announces a new five-year Executive Employment Agreement with Chairman and CEO Paresh Patel, securing his leadership for the future. The agreement includes a long-term equity incentive with a vesting threshold of $200 per share, highlighting Patel's commitment to the company's goals and objectives. Patel's proven success has driven HCI Group to over $1 billion in annual premium, showing best-in-class performance in the industry.
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HCI Group, Inc. will host a conference call on May 8, 2024, to discuss first-quarter results. The call will include a presentation by HCI management and a Q&A session. Interested parties can listen live via phone or webcast. Financial results will be released on the same day after the market closes.
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HCI Group, Inc. will hold its Annual Meeting of Shareholders on June 11, 2024. Shareholders can vote on proposals like electing directors and ratifying auditors. The meeting will also address executive compensation and other business matters.
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HCI Group, Inc. reported strong financial performance in the fourth quarter of 2023, with pre-tax income of $54.2 million and net income of $40.9 million. The company achieved significant milestones, including growing premiums-in-force by 30%, reducing the gross loss ratio to 30%, and starting operations of a new insurance carrier. HCI Group also redeemed all outstanding preferred shares and completed a secondary common stock offering for $85 million.
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FAQ

What is the current stock price of HCI Group (HCI)?

The current stock price of HCI Group (HCI) is $98.26 as of September 6, 2024.

What is the market cap of HCI Group (HCI)?

The market cap of HCI Group (HCI) is approximately 1.0B.

What is HCI Group, Inc.?

HCI Group, Inc. is a diversified holding company involved in property and casualty insurance, reinsurance, real estate, and information technology services.

What are the main business segments of HCI Group?

HCI Group operates in four main segments: HCPCI insurance operations, TypTap Group, Real estate operations, and Corporate and other.

How has HCI Group recently strengthened its financial position?

HCI Group has simplified its balance sheet and reduced its debt-to-capital ratio, enhancing liquidity and enabling future business initiatives.

What is TypTap Insurance Company?

TypTap Insurance Company is a technology-driven homeowners insurance provider, leveraging data and technology to streamline underwriting and claims processes.

What kind of properties does HCI Group’s real estate subsidiary manage?

HCI Group’s real estate subsidiary, Greenleaf Capital, LLC, manages office buildings, retail centers, marinas, and vacant shopping centers among other properties.

What web-based applications has HCI Group developed?

HCI Group, through its subsidiary Exzeo USA, Inc., has developed applications like SAMS and ClaimColony, which enhance operational efficiency in insurance processes.

Where is HCI Group, Inc. headquartered?

HCI Group, Inc. is headquartered in Tampa, Florida.

What is the ticker symbol for HCI Group, Inc.?

The ticker symbol for HCI Group, Inc. on the New York Stock Exchange is 'HCI'.

How did HCI Group perform financially in the first quarter of 2024?

HCI Group reported a net income of $57.0 million in the first quarter of 2024, a significant increase from $17.8 million in the same quarter of the previous year.

Where can I find more information about HCI Group, Inc.?

More information about HCI Group, Inc. can be found on their website at www.hcigroup.com.

HCI Group, Inc.

NYSE:HCI

HCI Rankings

HCI Stock Data

1.03B
10.48M
21.95%
78%
11.5%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
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United States of America
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