HCI Group, Inc. (NYSE:HCI) Given Consensus Rating of “Buy” by Analysts

Shares of HCI Group, Inc. (NYSE:HCI) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $230.00.

Several research firms have issued reports on HCI. Zacks Research upgraded shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Truist Financial increased their target price on HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 7th. Wall Street Zen upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Citizens Jmp boosted their price objective on HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of HCI Group in a research note on Monday.

HCI Group Trading Up 1.0%

HCI stock opened at $195.88 on Wednesday. The company has a market capitalization of $2.54 billion, a PE ratio of 12.51 and a beta of 1.20. HCI Group has a one year low of $106.89 and a one year high of $210.50. The company’s 50 day moving average price is $186.93 and its two-hundred day moving average price is $170.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, November 6th. The insurance provider reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a net margin of 24.97% and a return on equity of 31.18%. The company had revenue of $216.35 million during the quarter, compared to analysts’ expectations of $223.53 million. As a group, analysts predict that HCI Group will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.8%. HCI Group’s dividend payout ratio is presently 10.22%.

Hedge Funds Weigh In On HCI Group

A number of hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its position in HCI Group by 168.8% during the 1st quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider’s stock valued at $67,569,000 after purchasing an additional 284,315 shares during the last quarter. Vanguard Group Inc. grew its position in shares of HCI Group by 15.1% in the 3rd quarter. Vanguard Group Inc. now owns 807,454 shares of the insurance provider’s stock worth $154,975,000 after buying an additional 105,925 shares during the last quarter. Danske Bank A S purchased a new position in shares of HCI Group during the third quarter valued at approximately $19,256,000. Marshall Wace LLP increased its stake in shares of HCI Group by 107.3% during the second quarter. Marshall Wace LLP now owns 158,224 shares of the insurance provider’s stock valued at $24,082,000 after buying an additional 81,884 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in shares of HCI Group by 46.8% during the second quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock valued at $28,222,000 after acquiring an additional 59,134 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.