HCI Group (NYSE:HCI) Shares Up 13.8% on Earnings Beat

HCI Group, Inc. (NYSE:HCI)’s share price rose 13.8% during trading on Friday following a stronger than expected earnings report. The company traded as high as $172.14 and last traded at $176.30. Approximately 9,915 shares traded hands during trading, a decline of 93% from the average daily volume of 142,532 shares. The stock had previously closed at $154.87.

The insurance provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.86. The business had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.89 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. HCI Group’s dividend payout ratio is presently 18.18%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price objective on HCI Group from $165.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, HCI Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.25.

Institutional Trading of HCI Group

Several hedge funds have recently added to or reduced their stakes in HCI. GAMMA Investing LLC boosted its position in HCI Group by 16.6% during the 1st quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider’s stock valued at $89,000 after buying an additional 85 shares during the period. Aquatic Capital Management LLC raised its stake in shares of HCI Group by 1.7% during the fourth quarter. Aquatic Capital Management LLC now owns 5,694 shares of the insurance provider’s stock valued at $664,000 after acquiring an additional 94 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of HCI Group by 1.0% during the fourth quarter. New York State Teachers Retirement System now owns 10,493 shares of the insurance provider’s stock worth $1,223,000 after purchasing an additional 100 shares during the period. Rhumbline Advisers grew its stake in shares of HCI Group by 1.1% in the fourth quarter. Rhumbline Advisers now owns 22,315 shares of the insurance provider’s stock worth $2,600,000 after purchasing an additional 232 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in HCI Group by 5.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,702 shares of the insurance provider’s stock valued at $548,000 after purchasing an additional 247 shares during the period. 86.99% of the stock is owned by institutional investors.

HCI Group Price Performance

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 business has a 50-day simple moving average of $143.19 and a 200 day simple moving average of $126.43. The firm has a market cap of $1.80 billion, a P/E ratio of 13.98 and a beta of 1.23.

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.