TAMPA, Fla., Aug. 28, 2014 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) achieves the #2 ranking on Fortune's list of 100 Fastest-Growing Companies for 2014. The ranking is based on average revenue growth, profit growth, and relative stock performance over the past three years.
Fortune reports that HCI Group achieved an average annual growth rate of 58% on revenue growth, 100% earnings per share growth and 91% annualized total return over the three-year period ending June 30, 2014. HCI was ranked #13 on Fortune's List of 100 fastest-growing companies for 2013.
"The exceptionally strong performance of our core property and casualty insurance business propels us into the second position on Fortune's distinguished list of the fastest growing public companies," said Paresh Patel, HCI Group's chairman and chief executive officer. "We remain committed to the business principles that have driven our company's success, strict underwriting standards and an eye on the bottom line, while seeking to capitalize on strategic opportunities to foster long-term growth and shareholder value."
To qualify for the Fortune 100 list, a company's stock must trade on a major U.S. stock exchange with a minimum market capitalization of $250 million and a stock price of at least $5 per share on June 30, 2014, with revenue and net income for the four quarters ended on or before April 30, 2014 of at least $50 million and $10 million, respectively, and annualized growth in revenue and earnings per share of at least 20% annually over the past three years.
The full list of Fortune's 100 fastest-growing companies is available here.
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners' insurance, reinsurance, real estate and information technology services. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the S&P SmallCap 600 Index. Its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ." For more information about HCI Group, visit www.hcigroup.com.
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Source:HCI Group, Inc.