In a recent transaction, Andrew L. Graham, General Counsel of HCI Group, Inc. (NYSE:HCI), sold a significant portion of his holdings in the company's common stock. The sales, which occurred on March 26 and 27, 2024, totaled approximately $943,287. The stock was sold at prices ranging from $116.42 to $118.005 per share.
Graham executed three separate sales transactions over the two days. On the first day, he sold 800 shares at an average price of $116.42 and another 406 shares at an average price of $116.6587. The following day, he sold a larger batch of 6,803 shares at an average price of $118.005. These sales were part of an effort to modestly improve the diversification of Graham's investment holdings.
The sales reduced Graham's direct holdings in HCI Group, but he still retains a significant number of shares. Following the transactions, Graham directly owns 57,630 shares and an additional 3,074 shares are held indirectly in an IRA.
HCI Group, headquartered in Tampa, Florida, operates in the fire, marine, and casualty insurance industry. The company, formerly known as Homeowners Choice, Inc., has experienced changes in its stock value over time, and the transactions by its General Counsel may be of interest to investors monitoring insider activity.
It's worth noting that the sales do not necessarily indicate a lack of confidence in HCI Group's future prospects. In fact, Graham still maintains a considerable stake in the company, showing that his interests remain aligned with those of other shareholders. Investors often keep a close eye on insider transactions as they can provide valuable insights into the company's health and the sentiment of its executives.
InvestingPro Insights
In light of the recent insider transactions at HCI Group, Inc., it's pertinent for investors to consider additional data points that might shed light on the company's financial health and market performance. According to real-time metrics provided by InvestingPro, HCI Group boasts a market capitalization of $1.16 billion, with a P/E ratio of 12.52, reflecting a potential value play for investors seeking companies with lower price multiples relative to earnings.
Furthermore, the company has demonstrated a robust revenue growth of 10.92% over the last twelve months as of Q4 2023, indicating a solid top-line expansion. This is complemented by an impressive gross profit margin of 37.28%, which suggests that HCI Group is effectively managing its cost of goods sold and maintaining profitability.
InvestingPro Tips highlight that HCI Group has maintained dividend payments for 15 consecutive years, signifying a commitment to returning value to shareholders. Additionally, the company has been profitable over the last twelve months and analysts predict it will continue to be profitable this year. These factors, combined with a high return over the last year and particularly strong returns over the last three months, suggest that HCI Group has been performing well in the market.
For investors seeking more in-depth analysis, there are a total of 9 InvestingPro Tips available, which can be accessed through InvestingPro's dedicated page for HCI Group at https://www.investing.com/pro/HCI. To further enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert insights.
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