Make us your home page
Instagram

HCI, parent of Homeowners Choice Inc., hit by 19 percent drop in stock price

HCI Group Inc., the best-performing stock in the Tampa Bay area the past two years, had a rugged time in the markets Wednesday.

The Tampa-based parent of Homeowners Choice Inc. saw its stock plunge 19 percent the day after reporting fourth-quarter earnings that missed analysts' expectations.

The company reported net income of $1.31 a share for the quarter ended in December, 14 cents shy of estimates from analysts polled by Thomson Reuters. Quarterly revenue jumped 28 percent to $65.25 million, but that was about $3 million under estimates as well, according to TheStreet.

Driven by a growing book of homeowners insurance policies plus real estate and IT investments, HCI's stock rose nearly 170 percent in 2013 on top of a 116 percent gain the year before. That was more than any other public company based in the region both years.

HCI, parent of Homeowners Choice Inc., hit by 19 percent drop in stock price 03/05/14 [Last modified: Monday, March 10, 2014 11:18am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Tallest building in Pinellas County in search of a new name

    Real Estate

    ST. PETERSBURG — The name "Priatek" is gone from Pinellas County's tallest building, perhaps to be replaced by that of a much better-known company new to the Tampa Bay area.

    The Priatek name is off of downtown St. Petersburg's tallest building.
 [LARA CERRI  |   Times.  2015]
  2. Estuary wins pier design contest for the Lee Roy Selmon Expressway extension

    Real Estate

    TAMPA — And the winner is… Estuary.

    Voters overwhelmingly supported a pier design called Estuary for the $200-million extension of the Lee Roy Selmon Expressway in Tampa.
[Courtesy of AECOM]
  3. Amazon receives 238 proposals from places eager to become its 2nd headquarters

    Business

    NEW YORK — Amazon said Monday that it received 238 proposals from cities and regions in the United States, Canada and Mexico hoping to be the home of the company's second headquarters.

    Earlier this month, an Amazon employee gives her dog a biscuit as the pair head into a company building, where dogs are welcome, in Seattle. Amazon says it received 238 proposals from cities and regions hoping to be the home of the company's second headquarters. 
[AP Photo/Elaine Thompson]
  4. Target says customers want it to pause the Christmas creep

    Retail

    NEW YORK — Target says customers want it to pause the "Christmas creep." It says it wants to be more in tune with customers' mindset, so it plans to ease in holiday promotions this year while better recognizing Thanksgiving.

     Target says customers want it to pause the "Christmas creep." It says it wants to be more in tune with customers' mindset, so it plans to ease in holiday promotions this year while better recognizing Thanksgiving. This is Target's new store in Manhattan's Herald Square that opened last week. 
[Kavita Kumar/Minneapolis Star Tribune/TNS]
  5. Tampa's Walter Investment Management restructuring, could file for bankruptcy

    Corporate

    TAMPA — Count it among the Tampa Bay darlings that have fallen from grace — Walter Investment Management Corp., once one of the best-performing local stocks, is gearing up for a potential bankruptcy reorganization.

    Walter Investment Management is restructuring to reduce its $700 million debt, the company announced late Friday. Pictured is Anthony Renzi. CEO. | [Courtesy of LinkedIn]