Brokerages Set HCI Group, Inc. (NYSE:HCI) Target Price at $124.00

HCI Group, Inc. (NYSE:HCI) has been assigned a consensus rating of “Buy” from the five analysts that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $124.00.

HCI has been the topic of several analyst reports. Compass Point boosted their price objective on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JMP Securities restated a “market outperform” rating and set a $120.00 price target on shares of HCI Group in a report on Monday, April 15th. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Truist Financial boosted their price objective on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a report on Friday, April 5th.

Insider Buying and Selling

In other news, CEO Paresh Patel purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average price of $114.90 per share, with a total value of $114,900.00. Following the transaction, the chief executive officer now owns 349,000 shares of the company’s stock, valued at $40,100,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other HCI Group news, CEO Paresh Patel purchased 1,000 shares of HCI Group stock in a transaction dated Tuesday, April 9th. The stock was acquired at an average price of $114.90 per share, for a total transaction of $114,900.00. Following the acquisition, the chief executive officer now owns 349,000 shares in the company, valued at approximately $40,100,100. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Mark Harmsworth sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the completion of the sale, the chief financial officer now directly owns 15,420 shares of the company’s stock, valued at approximately $1,805,990.40. The disclosure for this sale can be found here. Insiders have sold a total of 113,102 shares of company stock valued at $13,198,303 over the last quarter. 25.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HCI. Quest Partners LLC purchased a new position in shares of HCI Group in the 4th quarter worth approximately $28,000. FMR LLC grew its holdings in HCI Group by 80.7% in the first quarter. FMR LLC now owns 468 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 209 shares during the last quarter. Captrust Financial Advisors increased its position in shares of HCI Group by 112.7% during the first quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 257 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of HCI Group during the 1st quarter valued at $383,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of HCI Group by 1,807.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 534 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 506 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Trading Up 1.2 %

HCI stock opened at $111.81 on Wednesday. The firm has a market cap of $1.12 billion, a PE ratio of 14.79 and a beta of 1.14. The firm has a fifty day moving average price of $107.51 and a 200 day moving average price of $88.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. HCI Group has a fifty-two week low of $48.08 and a fifty-two week high of $121.57.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. The business had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same period last year, the company posted $0.06 EPS. Sell-side analysts anticipate that HCI Group will post 10.33 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, February 15th. HCI Group’s dividend payout ratio is presently 21.16%.

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.