HCI Group, Inc. (NYSE:HCI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

HCI Group, Inc. (NYSE:HCI) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $241.6667.

A number of analysts have weighed in on the company. Weiss Ratings lowered HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald assumed coverage on shares of HCI Group in a research note on Thursday, July 9th. They set an “overweight” rating and a $225.00 target price for the company. Citizens Jmp upped their price target on shares of HCI Group from $255.00 to $265.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Wall Street Zen cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Zacks Research downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st.

Hedge Funds Weigh In On HCI Group

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of HCI Group by 5.5% in the first quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider’s stock valued at $2,093,000 after purchasing an additional 727 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in HCI Group by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider’s stock worth $736,000 after purchasing an additional 228 shares during the period. Millennium Management LLC increased its holdings in HCI Group by 78.7% during the 1st quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider’s stock worth $15,278,000 after purchasing an additional 45,097 shares during the period. Russell Investments Group Ltd. raised its position in HCI Group by 115.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider’s stock valued at $213,000 after purchasing an additional 751 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 184 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Trading Down 0.0%

HCI opened at $186.20 on Monday. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 8.03 and a beta of 1.04. The stock’s 50 day moving average price is $180.44 and its 200-day moving average price is $165.83. HCI Group has a one year low of $144.75 and a one year high of $210.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.56. HCI Group had a return on equity of 28.80% and a net margin of 32.60%.The firm had revenue of $246.65 million for the quarter, compared to the consensus estimate of $247.43 million. On average, equities analysts forecast that HCI Group will post 19.47 EPS for the current year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group’s dividend payout ratio is currently 6.90%.

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.