StockNews.com Downgrades HCI Group (NYSE:HCI) to Hold

StockNews.com downgraded shares of HCI Group (NYSE:HCI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other equities research analysts have also recently commented on the company. JMP Securities lifted their target price on HCI Group from $120.00 to $135.00 and gave the stock a market outperform rating in a research note on Thursday, May 9th. Oppenheimer reaffirmed an outperform rating and issued a $140.00 price objective on shares of HCI Group in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $127.75.

HCI Group Trading Up 1.5 %

Shares of HCI stock opened at $90.13 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market capitalization of $944.51 million, a price-to-earnings ratio of 9.17 and a beta of 1.13. HCI Group has a 52-week low of $48.84 and a 52-week high of $121.57. The company has a 50-day simple moving average of $93.28 and a two-hundred day simple moving average of $99.87.

HCI Group (NYSE:HCI) last announced its earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.91. The firm had revenue of $206.61 million for the quarter, compared to the consensus estimate of $189.17 million. HCI Group had a return on equity of 40.30% and a net margin of 17.72%. Research analysts anticipate that HCI Group will post 11.63 EPS for the current fiscal year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, August 16th. HCI Group’s dividend payout ratio (DPR) is currently 16.28%.

Institutional Investors Weigh In On HCI Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Khrom Capital Management LLC increased its stake in shares of HCI Group by 792.2% in the first quarter. Khrom Capital Management LLC now owns 180,506 shares of the insurance provider’s stock worth $20,953,000 after purchasing an additional 160,274 shares in the last quarter. Wellington Management Group LLP purchased a new position in HCI Group in the 4th quarter valued at approximately $5,633,000. Assenagon Asset Management S.A. raised its holdings in HCI Group by 344.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider’s stock valued at $8,360,000 after acquiring an additional 55,817 shares during the period. West Coast Financial LLC bought a new stake in HCI Group during the 2nd quarter valued at $3,407,000. Finally, Vanguard Group Inc. lifted its position in shares of HCI Group by 6.7% during the first quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock worth $58,034,000 after acquiring an additional 31,234 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

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.