HCI Group, Inc. (NYSE:HCI) Receives $230.00 Consensus Target Price from Brokerages

HCI Group, Inc. (NYSE:HCI) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $230.00.

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Truist Financial increased their target price on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Oppenheimer lowered shares of HCI Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of HCI Group in a research report on Tuesday. Finally, Wall Street Zen raised HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th.

Institutional Investors Weigh In On HCI Group

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in shares of HCI Group by 168.8% in the 1st quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider’s stock worth $67,569,000 after buying an additional 284,315 shares during the last quarter. Vanguard Group Inc. grew its position in HCI Group by 15.1% in the third quarter. Vanguard Group Inc. now owns 807,454 shares of the insurance provider’s stock worth $154,975,000 after acquiring an additional 105,925 shares in the last quarter. Danske Bank A S bought a new position in HCI Group in the third quarter valued at $19,256,000. Marshall Wace LLP raised its position in HCI Group by 107.3% during the second quarter. Marshall Wace LLP now owns 158,224 shares of the insurance provider’s stock valued at $24,082,000 after purchasing an additional 81,884 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in HCI Group by 46.8% during the second quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock worth $28,222,000 after purchasing an additional 59,134 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

HCI Group Trading Up 0.8%

NYSE:HCI opened at $177.02 on Friday. HCI Group has a 1 year low of $106.89 and a 1 year high of $210.50. The stock’s fifty day moving average price is $189.59 and its two-hundred day moving average price is $167.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $2.29 billion, a P/E ratio of 15.69 and a beta of 1.16.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, November 6th. The insurance provider reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a return on equity of 25.84% and a net margin of 18.58%.The company had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. As a group, analysts expect that HCI Group will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. HCI Group’s payout ratio is presently 10.22%.

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.