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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.

News

HCI Group Sets Fourth Quarter and Full Year 2023 Earnings Call for Thursday, March 7 at 4:45 p.m. ET

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HCI Group, Inc. (NYSE: HCI) will hold a conference call on March 7th, 2024, to discuss financial results for the fourth quarter and year ended December 31, 2023. Interested parties can listen to the live presentation or access the webcast link on the company's website. A replay of the call will also be available.
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HCI Group Declares Quarterly Cash Dividend

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HCI Group, Inc. (NYSE: HCI) has declared a regular quarterly cash dividend of 40 cents per common share, to be paid on March 15, 2024, to shareholders of record as of February 16, 2024.
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HCI Group Takes Strategic Steps to Better Position Company for Future Opportunities

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HCI Group, Inc. announces strategic steps to increase operational and capital flexibility, including the modification of the company’s relationship with Centerbridge Partners L.P. and redeeming all outstanding preferred shares of TypTap Insurance Group held by Centerbridge. These steps are designed to better position the company for future growth opportunities and unlock additional shareholder value.
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HCI Group to Redeem 4.25% Convertible Senior Notes

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HCI Group, a holding company with operations in homeowners insurance, IT services, real estate, and reinsurance, has elected to redeem the remaining $24 million principal balance of its 4.25% Convertible Senior Notes. The redemption date is March 15, 2024, and the Notes became immediately convertible into HCI common shares at a conversion rate of 16.5893 common shares per $1,000 principal amount of the Notes. The company expects all holders to elect to convert their Notes, which will have no impact on HCI’s diluted share count. This move is part of HCI's efforts to strengthen its balance sheet and reduce its debt-to-capital ratio, while maintaining significant liquidity for future business initiatives.
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Condo Owners Reciprocal Exchange, an HCI Group Sponsored Insurer, Secures ‘A’, Exceptional Rating From Demotech

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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.
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HCI Group Insurance Subsidiary Assumes $30 Million of In-Force Premium from Citizens, Consolidated In-Force Premium Reaches $1 Billion

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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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HCI Group Announces Closing of Public Offering Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares

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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HCI Group Announces Pricing of Underwritten Public Offering of Common Stock

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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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HCI Group Announces Proposed Public Offering of Common Stock

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.
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HCI Group Receives Approval for New Carrier and Citizens Assumption

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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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FAQ

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

The current stock price of HCI Group (HCI) is $111.42 as of October 10, 2024.

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

The market cap of HCI Group (HCI) is approximately 1.1B.

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.

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HCI Group, Inc.

NYSE:HCI

HCI Rankings

#2413 Ranked by Market Cap
#1618 Ranked by Dividends

HCI Stock Data

1.12B
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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