HCI Group’s (HCI) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of HCI Group (NYSE:HCI) in a report published on Monday morning, Benzinga reports. The firm currently has a $120.00 target price on the insurance provider’s stock.

Several other research analysts have also recently issued reports on the stock. Compass Point increased their target price on shares of HCI Group from $90.00 to $124.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Oppenheimer reiterated an outperform rating and set a $140.00 target price on shares of HCI Group in a report on Friday, April 5th. William Blair upgraded shares of HCI Group from a market perform rating to an outperform rating in a report on Friday, March 8th. Finally, Truist Financial raised their price target 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $124.00.

HCI Group Trading Up 0.8 %

NYSE HCI opened at $110.22 on Monday. The company’s 50-day moving average price is $106.02 and its 200-day moving average price is $87.75. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.10 billion, a PE ratio of 14.58 and a beta of 1.14. HCI Group has a 12 month low of $48.08 and a 12 month high of $121.57.

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

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, February 15th. HCI Group’s payout ratio is currently 21.16%.

Insider Activity at HCI Group

In related news, CEO Paresh Patel acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average cost of $114.90 per share, with a total value of $114,900.00. Following the transaction, the chief executive officer now directly owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Paresh Patel acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average cost of $114.90 per share, with a total value of $114,900.00. Following the transaction, the chief executive officer now directly owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew L. Graham sold 800 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the completion of the transaction, the general counsel now directly owns 57,630 shares of the company’s stock, valued at $6,709,284.60. The disclosure for this sale can be found here. Insiders sold 113,102 shares of company stock valued at $13,198,303 in the last three months. 25.25% of the stock is owned by insiders.

Hedge Funds Weigh In On HCI Group

A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in HCI Group by 80.7% during the 1st quarter. FMR LLC now owns 468 shares of the insurance provider’s stock worth $25,000 after buying an additional 209 shares during the last quarter. Legal & General Group Plc raised its position in HCI Group by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 19,503 shares of the insurance provider’s stock worth $1,322,000 after buying an additional 243 shares during the last quarter. Tower Research Capital LLC TRC raised its position in HCI Group by 11.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the insurance provider’s stock worth $201,000 after buying an additional 245 shares during the last quarter. Yousif Capital Management LLC raised its position in HCI Group by 3.0% during the 1st quarter. Yousif Capital Management LLC now owns 8,512 shares of the insurance provider’s stock worth $580,000 after buying an additional 245 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in HCI Group by 112.7% during the 1st quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock worth $33,000 after buying an additional 257 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.