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Why Shares of HCI Group Are Rising

TheMotleyFool

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Why Shares of HCI Group Are RisingPhoto, wide shot, wide-angle lens, Reinsurance company, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/490045fb-8676-41a9-be7a-bcf4281c7d92.png

Shares of the insurance and real estate company HCI Group (NYSE: HCI) had risen roughly 11% as of 1:17 p.m. ET Wednesday after the company reported earnings results for the fourth quarter of 2021.

HCI Group reported diluted earnings per share of $0.01 on total revenue of $112.3 million. Excluding net unrealized gains, HCI reported a net loss of $0.14 earnings per share. However, analysts had been projecting an adjusted net loss of $0.38, so the company beat estimates. HCI also beat analyst expectations for revenue.

Image source: Getty Images.

Source Fool.com

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