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

HCI Group, Inc. (NYSE:HCI) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $130.25.

Several equities analysts have commented on the stock. StockNews.com cut shares of HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JMP Securities lifted their target price on HCI Group from $135.00 to $145.00 and gave the company a “market outperform” rating in a report on Friday, August 9th.

HCI Group Price Performance

HCI stock opened at $104.98 on Friday. The business’s fifty day moving average price is $94.56 and its 200 day moving average price is $100.61. HCI Group has a 12-month low of $50.01 and a 12-month high of $121.57. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.10 billion, a PE ratio of 10.68 and a beta of 1.13.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.63. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. The business had revenue of $206.25 million for the quarter, compared to analysts’ expectations of $196.67 million. During the same quarter in the prior year, the company earned $1.22 earnings per share. On average, sell-side analysts anticipate that HCI Group will post 12.37 EPS for the current year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 16th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, August 16th. HCI Group’s payout ratio is currently 16.28%.

Institutional Investors Weigh In On HCI Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in HCI Group in the 2nd quarter valued at about $1,254,000. Point72 DIFC Ltd acquired a new position in shares of HCI Group in the second quarter valued at approximately $26,000. Point72 Asset Management L.P. raised its stake in shares of HCI Group by 141.5% during the second quarter. Point72 Asset Management L.P. now owns 4,106 shares of the insurance provider’s stock worth $378,000 after purchasing an additional 2,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of HCI Group by 26.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,130 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 658 shares during the period. Finally, Millennium Management LLC grew its position in HCI Group by 10.7% in the 2nd quarter. Millennium Management LLC now owns 97,156 shares of the insurance provider’s stock valued at $8,955,000 after buying an additional 9,398 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other 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.