HCI Group (NYSE:HCI) Shares Gap Up Following Strong Earnings

HCI Group, Inc. (NYSE:HCI) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $163.50, but opened at $179.63. HCI Group shares last traded at $174.1850, with a volume of 19,450 shares trading hands.

The insurance provider reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $2.38. The firm had revenue of $246.24 million during the quarter, compared to analysts’ expectations of $232.36 million. HCI Group had a net margin of 33.19% and a return on equity of 41.15%.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 20th. HCI Group’s dividend payout ratio is 7.05%.

Analyst Ratings Changes

HCI has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of HCI Group in a report on Monday, December 29th. Zacks Research lowered shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research note on Friday, January 16th. Finally, Truist Financial boosted their price objective on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.67.

Institutional Investors Weigh In On HCI Group

A number of large investors have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new position in HCI Group during the third quarter worth about $25,000. Torren Management LLC purchased a new position in shares of HCI Group during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC raised its position in shares of HCI Group by 519.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 135 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in HCI Group by 557.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock valued at $33,000 after buying an additional 184 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in HCI Group by 62.8% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock valued at $35,000 after buying an additional 71 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Trading Up 3.8%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80. The business has a fifty day simple moving average of $170.27 and a 200 day simple moving average of $177.60. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 7.79 and a beta of 1.21.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.