Hci Group Stock Price, News & Analysis

HCI Group, Inc. (NYSE:HCI) will participate in the 2022 Goldman Sachs Insurtech Conference, a virtual event occurring on June 6, 2022, at 8:00 a.m. ET. Chairman and CEO Paresh Patel will engage in a fireside chat. The company, known for its diverse operations in homeowners insurance, IT services, real estate, and reinsurance, is expanding through its subsidiary TypTap Insurance Company. HCI's common shares are traded on the NYSE and included in the Russell 2000 and S&P SmallCap 600 Index.

HCI Group, Inc. (NYSE:HCI) will present at the Truist Securities Financial Services Conference on May 24, 2022. Chairman and CEO Paresh Patel, along with TypTap Insurance President Kevin Mitchell, will engage in one-on-one meetings with institutional investors. HCI Group operates in homeowners insurance, information technology, real estate, and reinsurance, with subsidiaries including TypTap Insurance, which offers technology-driven homeowners and flood insurance, and Homeowners Choice, focusing primarily on Florida. For more details, visit the investor website or contact Gateway Group.

HCI Group, Inc. (NYSE:HCI) announced a private placement offering of $150 million in 4.75% convertible senior notes, due 2042. Closing is expected on May 23, 2022. The company also granted an option for initial purchasers to buy an additional $22.5 million of the notes. The conversion price is approximately $80.54 per share, a 25% premium to HCI's closing price of $64.43 on May 18, 2022. About $60 million of proceeds will be used to repurchase common stock, with the remainder allocated for general corporate purposes.

TAMPA, Fla., May 18, 2022 (GLOBE NEWSWIRE) -- HCI Group (NYSE:HCI) plans to offer $150 million of convertible senior notes due 2042 in a private placement. An additional $22.5 million may be purchased by initial buyers. The notes will rank senior to future indebtedness and are convertible under specific conditions starting March 1, 2027. HCI intends to use 40% of proceeds for stock repurchase and the rest for corporate purposes. A prepaid forward with Société Générale is also planned, allowing HCI to repurchase shares that will be retired for corporate law purposes.

HCI Group, Inc. (NYSE:HCI) has announced the sale of 1.5 acres of right-of-way related to a road improvement project, expected to generate net proceeds of approximately $14.5 million, significantly surpassing the net book value of $1.1 million. The transaction is anticipated to close by the end of the third quarter of 2022. Following the sale, Greenleaf Capital will retain an office building on six acres and plans to lease it at higher rates than the current rent. CEO Paresh Patel stated this sale underscores the value embedded in the company's real estate assets.

HCI Group reported a net income of $2.8 million for Q1 2022, down from $6.8 million in Q1 2021. Diluted earnings per share decreased to $0.09 from $0.75. Adjusted net income, excluding unrealized gains, was $5.5 million or $0.34 per share, compared to $7.0 million or $0.77 a year earlier. Gross written premiums surged 40.9% to $177.3 million, driven by Homeowners Choice and TypTap growth. However, losses and loss adjustment expenses rose to $72.7 million, up from $45.8 million, largely due to weather-related claims in Florida.

HCI Group, Inc. (NYSE:HCI) has declared a quarterly cash dividend of 40 cents per common share, set to be paid on June 17, 2022, to shareholders of record by May 17, 2022. HCI operates in homeowners insurance, IT services, real estate, and reinsurance, with its key insurance subsidiary, TypTap Insurance Company, experiencing rapid expansion across the U.S. HCI Group is also included in the Russell 2000 and S&P SmallCap 600 Index, highlighting its market significance.

HCI Group, Inc. (NYSE:HCI) will host a conference call on May 5, 2022, at 8:30 a.m. ET to discuss its Q1 2022 financial results, set to be released on May 4. The call will be available via a listen-only number or through a webcast on the company’s investor website. HCI operates in homeowners insurance, reinsurance, real estate, and IT services, and its subsidiaries include TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company, Inc. The company’s shares are part of the Russell 2000 and S&P SmallCap 600 Index.

HCI Group, Inc. (NYSE:HCI) will hold its Annual Meeting of Shareholders on June 2, 2022, at 3:00 p.m. at its Tampa headquarters. Shareholders on record by April 12, 2022, can vote on key proposals, including the election of Class B Directors, the ratification of external auditors, and advisory approval of executive compensation. HCI operates in homeowners insurance, IT services, real estate, and reinsurance, with subsidiaries like TypTap Insurance Company and Homeowners Choice Property & Casualty Insurance Company.