HCI Group (NYSE:HCI) Sets New 12-Month High – Still a Buy?

Shares of HCI Group, Inc. (NYSE:HCI) hit a new 52-week high during trading on Monday . The stock traded as high as $151.88 and last traded at $151.10, with a volume of 24686 shares changing hands. The stock had previously closed at $150.47.

Wall Street Analyst Weigh In

Separately, Truist Financial reiterated a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Price Performance

The company has a 50-day moving average of $128.62 and a 200-day moving average of $118.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 12.49 and a beta of 1.14.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, February 27th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.75) by $3.06. The company had revenue of $161.88 million for the quarter, compared to analysts’ expectations of $175.11 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. As a group, equities research analysts predict that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.07%. HCI Group’s dividend payout ratio is currently 18.18%.

Hedge Funds Weigh In On HCI Group

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd boosted its holdings in shares of HCI Group by 75.0% during the third quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 213 shares during the last quarter. GAMMA Investing LLC increased its position in HCI Group by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 113 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in HCI Group during the fourth quarter worth approximately $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of HCI Group in the 4th quarter valued at $211,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of HCI Group during the 4th quarter valued at $255,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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.