HCI Group (NYSE:HCI) Trading Up 3% – What’s Next?

HCI Group, Inc. (NYSE:HCI) shot up 3% during mid-day trading on Wednesday . The company traded as high as $145.30 and last traded at $144.64. 61,165 shares changed hands during trading, a decline of 54% from the average session volume of 132,107 shares. The stock had previously closed at $140.47.

Analysts Set New Price Targets

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

HCI Group Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 12.00 and a beta of 1.14. The stock’s fifty day moving average price is $127.00 and its 200-day moving average price is $117.39.

HCI Group (NYSE:HCI) last announced its earnings results 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 the consensus estimate of $175.11 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. Equities research analysts predict that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 21st. This represents a $1.60 annualized dividend and a yield of 1.11%. HCI Group’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Trading of HCI Group

A number of hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its stake in HCI Group by 288.9% in the 4th quarter. Wasatch Advisors LP now owns 294,349 shares of the insurance provider’s stock valued at $34,300,000 after buying an additional 218,664 shares during the period. Khrom Capital Management LLC increased its stake in shares of HCI Group by 20.7% in the fourth quarter. Khrom Capital Management LLC now owns 796,170 shares of the insurance provider’s stock worth $92,778,000 after acquiring an additional 136,642 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of HCI Group by 15.7% during the fourth quarter. Hood River Capital Management LLC now owns 940,000 shares of the insurance provider’s stock worth $109,538,000 after acquiring an additional 127,332 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in HCI Group by 2,878.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider’s stock valued at $13,365,000 after purchasing an additional 110,838 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in HCI Group by 196.5% in the third quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock valued at $16,252,000 after purchasing an additional 100,600 shares in 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.