Hci Group Stock Price, News & Analysis

HCI Group (NYSE: HCI) has announced that GEICO has signed a multi-year lease agreement to fully occupy a three-building campus in Tampa, Florida, owned by its real estate division Greenleaf Capital. The office campus, acquired by Greenleaf in 2023, features approximately 190,000 square feet of leasable space and is currently reported at a carrying value of $17 million on HCI's balance sheet.

The agreement is expected to bring more than 1,000 new jobs to the local community. With GEICO as the tenant, the campus is now fully leased. The combination of property improvements and the long-term lease with a high-quality tenant is anticipated to enhance the equity value of the investment.

HCI Group (NYSE: HCI) has announced a strategic reorganization into two distinct operating units to enhance growth potential. The first unit encompasses four insurance companies: Homeowners Choice Property & Casualty Insurance, TypTap Insurance, Condo Owners Reciprocal Exchange, and Tailrow Insurance Exchange, along with Griston (claims management), Claddaugh (reinsurance), and Greenleaf Capital (real estate).

The second unit, formerly known as TypTap Insurance Group, has been rebranded as Exzeo Group and will focus on developing technology solutions for the property and casualty insurance industry. The restructuring aims to enable both units to more effectively pursue their respective growth and profitability objectives.

HCI Group reported its Q4 2024 financial results with pre-tax income of $5.9 million and diluted EPS of $0.23, down from $3.40 in Q4 2023. Consolidated gross premiums earned increased 38% to $297.5 million, driven by policy assumptions from Citizens Property Insurance

Q4 highlights include net investment income of $14.5 million (up from $10.3 million), and losses of $110.7 million including $78 million from Hurricane Milton. The company experienced $24.5 million in favorable development mostly related to the 2024 accident year.

For full-year 2024, HCI achieved pre-tax income of $173.4 million and diluted EPS of $8.89, compared to $7.62 in 2023. Annual gross premiums earned rose 41.5% to $1,083.2 million, while facing impacts from Hurricanes Helene ($43.0 million), Milton ($78.0 million), and Debby ($6.5 million).

HCI Group announced that its sponsored reciprocal insurer, Tailrow Insurance Exchange, has successfully assumed nearly 14,000 policies from Citizens Property Insurance , Florida's state-backed insurance company. The assumed policies represent approximately $35 million of in-force premium.

Tailrow achieved a 76% acceptance rate, having been approved for 20,000 policies and making approximately 18,000 offers. The policy assumption became effective on February 18, 2025. The company operates as a reciprocal insurer, an unincorporated aggregation of policyholders operating through an attorney in fact, with policyholders essentially owning the company while management services are provided for a predetermined fee.

HCI Group (NYSE: HCI) has announced its board of directors has declared a quarterly cash dividend of $0.40 per common share. The dividend will be paid on March 21, 2025, to shareholders of record as of the close of business on February 21, 2025. HCI Group operates in multiple sectors, including homeowners insurance, information technology services, real estate, and reinsurance.

HCI Group (NYSE: HCI) has scheduled its fourth quarter and full year 2024 earnings conference call for Thursday, February 27, 2025, at 4:45 p.m. Eastern time. The company, which operates in homeowners insurance, information technology services, real estate, and reinsurance, will release its financial results after market close on the same day.

The presentation will be hosted by HCI management and include a question-and-answer session. Investors can join via phone using the toll-free number 888-506-0062 (international: 973-528-0011) with participant code 835158, or through the webcast link available on HCI's website. A replay will be accessible after 8:00 p.m. Eastern time using toll-free number 877-481-4010 (international: 919-882-2331) with passcode 51955.

HCI Group announced that its 4.75% Convertible Senior Notes Due 2042 became convertible by all Holders starting January 1, 2025, through March 31, 2025. This conversion opportunity was triggered because HCI's share price exceeded 130% of the Conversion Price of $80.54 during the final trading days of Q4 2024.

Holders can convert their Notes into HCI common stock at a ratio of approximately 12.4166 shares per $1,000 principal amount. For conversions before March 31, 2025, HCI plans to implement Physical Settlement, delivering only common stock. The company is also considering a full redemption of the Notes on June 5, 2025, if conditions are met, which require the stock price to maintain at least 130% above the Conversion Price for 20 trading days within any 30-day trading period.

HCI Group reported Q3 2024 financial results with pre-tax income of $14.1 million and net income of $9.4 million. Despite Hurricanes Debby and Helene, consolidated gross premiums earned increased to $265.5 million from $188.3 million year-over-year. Net income after noncontrolling interests was $5.7 million ($0.52 EPS) compared to $13.2 million ($1.34 EPS) in Q3 2023. The company assumed approximately 42,000 policies from Citizens in October. Losses from Hurricane Helene totaled $40.0 million and Hurricane Debby $6.5 million.

HCI Group (NYSE: HCI) has announced its board of directors has declared a quarterly cash dividend of $0.40 per common share. The dividend will be paid on December 20, 2024 to shareholders of record as of November 15, 2024. HCI Group operates in homeowners insurance, information technology services, real estate, and reinsurance sectors.