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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect HCI Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
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Rhea-AI Summary
HCI Group, Inc. (NYSE: HCI) announced that Condo Owners Reciprocal Exchange secured a Financial Stability Rating of ‘A’, Exceptional, from Demotech. The company has a positive long-term relationship with Demotech and appreciates the continued support. Condo Owners Reciprocal Exchange is an HCI-sponsored reciprocal insurer with plans to write commercial residential policies.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.36%
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Rhea-AI Summary
HCI Group, Inc. (NYSE: HCI) announced that its subsidiary, TypTap Insurance Company, has successfully assumed approximately $30 million of in-force premium from Citizens Property Insurance Corporation, Florida’s state-backed insurance company. This marks a significant milestone for HCI, reaching over $1 billion of in-force premium, starting 2023 with less than $740 million. TypTap assumed approximately 6,800 policies, with another assumption expected in January 2024.
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Rhea-AI Sentiment
End-of-Day
-2.52%
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Rhea-AI Summary
HCI Group, Inc. (NYSE: HCI) closed a public offering of 1,150,000 shares of common stock at $78 per share, resulting in net proceeds of approximately $85 million. The company intends to use the funds for general corporate purposes, including the continued assumption of policies from Citizens Property Insurance Corporation.
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Rhea-AI Sentiment
End-of-Day
-1%
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Rhea-AI Summary
HCI Group, Inc. (NYSE: HCI) announced the pricing of its underwritten public offering of 1,000,000 shares of its common stock at a public offering price of $78 per share, totaling approximately $78 million in gross proceeds. The offering is expected to close on December 11, 2023, with the company intending to use the net proceeds for general corporate purposes, including the assumption of policies from Citizens Property Insurance Corporation.
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Rhea-AI Sentiment
End-of-Day
2.04%
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Rhea-AI Summary
HCI Group, Inc. (NYSE: HCI) has announced a public offering of 1,000,000 shares of its common stock, with an option for underwriters to purchase an additional 150,000 shares. The company intends to use the net proceeds for general corporate purposes, including the assumption of policies from Citizens Property Insurance Corporation. The offering is subject to market conditions and is being managed by JMP Securities and Truist Securities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.04%
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Rhea-AI Summary
HCI Group, Inc. (NYSE: HCI) announced that Condo Owners Reciprocal Exchange has received a certificate of authority to transact insurance in Florida. CORE plans to commence operations in February 2024 by assuming policies representing approximately $75 million of in-force premium from Citizens Property Insurance Corporation, Florida’s state-backed insurance company.
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Rhea-AI Sentiment
End-of-Day
1.34%
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HCI Group, Inc. (NYSE: HCI) announced that its subsidiary, Homeowners Choice Property & Casualty Insurance Company, has successfully assumed approximately 53,750 policies from Citizens Property Insurance Corporation, totaling around $196 million in in-force premium. The assumption, effective November 21, 2023, follows approval by the Florida Office of Insurance Regulation. More than 70% of policyholders assumed will see savings over the expected renewal offer from Citizens. HCI's other subsidiary, TypTap Insurance Company, is expected to assume policies from Citizens in December 2023 and January 2024.
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Rhea-AI Sentiment
End-of-Day
1.97%
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Rhea-AI Summary
HCI Group, Inc. (NYSE:HCI) reported pre-tax income of $20.1 million and net income of $15.7 million, or $1.34 diluted earnings per share, in Q3 2023. Adjusted net income for Q3 2023 was $16.5 million, or $1.41 diluted earnings per share, compared to a loss in Q3 2022. HCI's Chairman highlighted the impact of insurance reforms by the Florida Legislature and the company's expansion in Florida insurance businesses.
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Rhea-AI Sentiment
End-of-Day
21.52%
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HCI Group declares regular quarterly cash dividend of 40 cents per common share
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Rhea-AI Sentiment
End-of-Day
-1.14%
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HCI Group, Inc. to hold conference call on November 7, 2023 to discuss third quarter results.
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Rhea-AI Sentiment
End-of-Day
2.81%
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HCI Group, Inc.
NYSE:HCI
HCI Rankings
HCI Stock Data
1.10B
5.10M
26.56%
68.91%
9.67%
Direct Property and Casualty Insurance Carriers
Finance and Insurance
United States of America
TAMPA
About HCI
hci group, inc. engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in florida. it provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs. the company also owns and operates one full-service restaurant, marinas, waterfront property, retail shopping centres, office building, and vacant shopping centre for investment purposes. in addition, it designs and develops web-based applications and products for mobile devices, including sams and claimcolony applications. the company was formerly known as homeowners choice, inc. and changed its name to hci group, inc. in may 2013. hci group, inc. was founded in 2006 and is headquartered in tampa, florida.