HCI Group (NYSE:HCI) Stock Lifted to Strong-Buy by Zacks Research

Zacks Research upgraded shares of HCI Group (NYSE:HCI) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks reports.

A number of other research analysts have also recently weighed in on the stock. Citigroup restated a “market outperform” rating on shares of HCI Group in a report on Friday, August 7th. Cantor Fitzgerald started coverage on shares of HCI Group in a research note on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price target for the company. Citizens Jmp increased their price objective on HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Weiss Ratings lowered HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Truist Financial set a $235.00 target price on HCI Group in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $241.67.

HCI Group Stock Performance

Shares of HCI Group stock opened at $184.82 on Monday. The business has a 50-day moving average of $183.50 and a 200 day moving average of $169.62. HCI Group has a 12 month low of $144.75 and a 12 month high of $210.50. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 7.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.56. The company had revenue of $246.65 million during the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. As a group, sell-side analysts forecast that HCI Group will post 20.08 earnings per share for the current year.

Institutional Investors Weigh In On HCI Group

Several large investors have recently modified their holdings of HCI. BlackRock Inc. acquired a new position in shares of HCI Group in the 2nd quarter valued at about $323,098,000. Freestone Grove Partners LP purchased a new position in shares of HCI Group in the 2nd quarter valued at $30,766,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of HCI Group by 2,944.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock valued at $18,067,000 after acquiring an additional 113,019 shares in the last quarter. Bank of America Corp DE acquired a new stake in HCI Group in the 2nd quarter valued at $17,422,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of HCI Group during the second quarter worth about $13,805,000. 86.99% of the stock is owned by institutional investors and hedge funds.

About HCI Group

HCI Group, Inc is a holding company headquartered in Tampa, Florida, that operates businesses in property and casualty insurance, real estate, and insurance-related technology. Its principal activities center on providing property insurance products for residential policyholders, with an emphasis on coverage for homeowners and other property owners.

HCI’s insurance operations have historically served customers primarily in Florida and other U.S. markets through affiliated insurance companies, including Homeowners Choice Property & Casualty Insurance Company and TypTap Insurance Company.