HCI Group, Inc. (NYSE:HCI) Receives $124.00 Consensus Price Target from Brokerages

Shares of HCI Group, Inc. (NYSE:HCI) have been given a consensus rating of “Buy” by the five analysts that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $124.00.

A number of analysts recently weighed in on HCI shares. Compass Point increased their price target on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of HCI Group in a research report on Monday, April 15th. Truist Financial upped their price objective on HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th.

Insider Buying and Selling

In other HCI Group news, CEO Paresh Patel bought 500 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $111.00 per share, with a total value of $55,500.00. Following the purchase, the chief executive officer now owns 349,500 shares in the company, valued at approximately $38,794,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other HCI Group news, CFO James Mark Harmsworth sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total value of $2,342,400.00. Following the completion of the sale, the chief financial officer now owns 15,420 shares of the company’s stock, valued at $1,805,990.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Paresh Patel bought 500 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were bought at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the transaction, the chief executive officer now directly owns 349,500 shares in the company, valued at approximately $38,794,500. The disclosure for this purchase can be found here. Insiders sold 113,102 shares of company stock valued at $13,198,303 over the last ninety days. Corporate insiders own 25.25% of the company’s stock.

Hedge Funds Weigh In On HCI Group

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in HCI Group by 0.4% in the 2nd quarter. BlackRock Inc. now owns 1,077,392 shares of the insurance provider’s stock valued at $66,561,000 after purchasing an additional 4,127 shares in the last quarter. Vanguard Group Inc. grew its holdings in HCI Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 558,696 shares of the insurance provider’s stock valued at $38,092,000 after purchasing an additional 21,054 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of HCI Group by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 380,933 shares of the insurance provider’s stock valued at $25,972,000 after buying an additional 9,798 shares in the last quarter. Voya Investment Management LLC increased its position in shares of HCI Group by 14.0% in the fourth quarter. Voya Investment Management LLC now owns 305,506 shares of the insurance provider’s stock valued at $26,701,000 after buying an additional 37,465 shares in the last quarter. Finally, State Street Corp raised its stake in shares of HCI Group by 3.8% during the 2nd quarter. State Street Corp now owns 221,412 shares of the insurance provider’s stock worth $15,003,000 after buying an additional 8,145 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Stock Up 1.2 %

Shares of NYSE HCI opened at $111.81 on Wednesday. The business has a 50-day moving average price of $107.51 and a 200 day moving average price of $88.86. The stock has a market cap of $1.12 billion, a PE ratio of 14.79 and a beta of 1.14. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group has a 52-week low of $48.08 and a 52-week high of $121.57.

HCI Group (NYSE:HCI) last posted its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same period in the prior year, the company earned $0.06 earnings per share. Equities research analysts forecast that HCI Group will post 10.33 earnings per share for the current year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 16th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. HCI Group’s dividend payout ratio (DPR) is 21.16%.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.