Homeowners Choice, Inc. (NASDAQ:HCII), a Florida-based provider of homeowners’ insurance, today announced that its stock has received an Outperform Rating from Anderson & Strudwick research analyst Steven F. Maracia. Anderson & Strudwick is a full-service regional investment firm headquartered in Richmond, Va.
In his report, Maracia highlights the company’s growth in 2008, including its recent assumption of 45,000 policies, saying the assumption “could lead to substantial profit growth in 4Q08.” His report also notes the company’s “…low valuation, trading at 1.1x book value and 3x 2008 estimate.” The report can be read in its entirety on the Anderson & Strudwick web site at http://www.andersonstrudwick.com/research_report_pages/08.12-02_HomeownersChoice.pdf.
“We are gratified that Mr. Maracia has recognized our solid performance and our potential,” says Jay Madhu, Homeowners Choice’s director of investor relations. “We anticipate that this information will be of interest to homeowners in Florida as well as to our shareholders and policyholders.”
About Homeowners Choice, Inc.
Homeowners Choice, Inc. is a Florida-based insurance holding company, headquartered in Clearwater, Fla. and founded by Florida homeowners. Its wholly-owned subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., which began operations in July 2007, provides property and casualty homeowners' insurance, condominium owners' insurance and tenants' insurance solely to Florida property owners. The company’s common shares trade on the NASDAQ Global Market under the ticker symbol HCII. Its warrants trade on the same market under the ticker symbol HCIIW. The company’s principal executive offices are located at 2340 Drew St., Suite 200, Clearwater, Fla. 33765. More information about Homeowners Choice, Inc. is available at http://www.hcpci.com.
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan” and “project” and other similar words and expressions are intended to signify forward-looking statements. The forward-looking statements in this news release include the estimates and statements made by the stock analyst. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company’s filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company’s business, financial condition and results of operations. Homeowners Choice, Inc. disclaims all obligations to update any forward-looking statements.