JMP Securities initiated coverage on shares of Homeowners Choice (NYSE:HCI) in a research report sent to investors on Tuesday morning, TheFlyOnTheWall.com reports. The firm issued a market perform rating on the stock.
Homeowners Choice (NYSE:HCI) traded up 0.96% on Tuesday, hitting $47.31. 62,519 shares of the company’s stock traded hands. Homeowners Choice has a 52-week low of $18.29 and a 52-week high of $48.73. The stock’s 50-day moving average is $42.93 and its 200-day moving average is $36.28. The company has a market cap of $543.8 million and a price-to-earnings ratio of 8.53.
Homeowners Choice (NYSE:HCI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.35.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 20th. Investors of record on Friday, November 15th will be paid a dividend of $0.28 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, November 13th. This is an increase from Homeowners Choice’s previous quarterly dividend of $0.23.
A number of other firms have also recently commented on HCI. Analysts at Zacks upgraded shares of Homeowners Choice from a neutral rating to an outperform rating in a research note to investors on Tuesday, November 5th. They now have a $48.10 price target on the stock. Separately, analysts at Gilford Securities downgraded shares of Homeowners Choice from a buy rating to a neutral rating in a research note to investors on Thursday, October 24th. They now have a $45.60 price target on the stock, up previously from $44.50. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Homeowners Choice has an average rating of Buy and an average price target of $37.41.
HCI Group Inc, formerly Homeowners Choice, Inc, is a holding company. The Company, through its subsidiaries, is engaged in the property and casualty insurance business.
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