HCI Group (NYSE:HCI) Receives “Market Outperform” Rating from JMP Securities

HCI Group (NYSE:HCI)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a note issued to investors on Monday, Benzinga reports. They presently have a $120.00 price target on the insurance provider’s stock. JMP Securities’ price target points to a potential upside of 7.21% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Truist Financial lifted their target price on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 12th. Oppenheimer restated an “outperform” rating and issued a $140.00 price target on shares of HCI Group in a report on Friday, April 5th. Compass Point boosted their price target on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, William Blair raised HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.00.

HCI Group Stock Performance

Shares of HCI stock opened at $111.93 on Monday. The stock has a market capitalization of $1.12 billion, a PE ratio of 14.81 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. The firm has a 50 day moving average of $106.42 and a two-hundred day moving average of $88.15.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million for the quarter, compared to analyst estimates of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same quarter last year, the company earned $0.06 EPS. On average, research analysts predict that HCI Group will post 10.33 EPS for the current fiscal year.

Insider Transactions at HCI Group

In other HCI Group news, CEO Paresh Patel purchased 500 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the acquisition, the chief executive officer now owns 349,500 shares of the company’s stock, valued at $38,794,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HCI Group news, General Counsel Andrew L. Graham sold 29,008 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $117.01, for a total value of $3,394,226.08. Following the completion of the transaction, the general counsel now owns 21,819 shares of the company’s stock, valued at approximately $2,553,041.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paresh Patel bought 500 shares of HCI Group stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $111.00 per share, with a total value of $55,500.00. Following the completion of the transaction, the chief executive officer now owns 349,500 shares of the company’s stock, valued at $38,794,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is owned by insiders.

Hedge Funds Weigh In On HCI Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in HCI Group by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,077,392 shares of the insurance provider’s stock worth $66,561,000 after buying an additional 4,127 shares in the last quarter. Vanguard Group Inc. increased its position in shares of HCI Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 558,696 shares of the insurance provider’s stock valued at $38,092,000 after buying an additional 21,054 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 9,798 shares during the period. Voya Investment Management LLC increased its holdings 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 worth $26,701,000 after acquiring an additional 37,465 shares in the last quarter. Finally, State Street Corp raised its position in shares of HCI Group by 3.8% during the second quarter. State Street Corp now owns 221,412 shares of the insurance provider’s stock worth $15,003,000 after purchasing an additional 8,145 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Company Profile

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.