HCI Group (NYSE:HCI) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of HCI Group (NYSE:HCI) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Several other equities analysts have also weighed in on HCI. Truist Financial increased their target price on HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of HCI Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $221.67.

HCI Group Trading Down 8.0%

Shares of NYSE HCI opened at $179.32 on Friday. HCI Group has a fifty-two week low of $105.00 and a fifty-two week high of $210.50. The firm has a market capitalization of $2.32 billion, a P/E ratio of 15.90 and a beta of 1.16. 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’s 50 day simple moving average is $188.79 and its 200 day simple moving average is $165.14.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 6th. The insurance provider reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $2.46. The firm had revenue of $216.35 million during the quarter, compared to analyst estimates of $223.53 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. On average, analysts predict that HCI Group will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

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. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 21st. HCI Group’s payout ratio is 10.22%.

Institutional Trading of HCI Group

Several hedge funds have recently bought and sold shares of HCI. Axxcess Wealth Management LLC lifted its stake in HCI Group by 13.5% in the third quarter. Axxcess Wealth Management LLC now owns 11,128 shares of the insurance provider’s stock valued at $2,136,000 after buying an additional 1,320 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of HCI Group by 15.1% during 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 during the period. Cookson Peirce & Co. Inc. raised its holdings in shares of HCI Group by 7.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 4,939 shares of the insurance provider’s stock worth $948,000 after acquiring an additional 359 shares during the period. Assetmark Inc. lifted its position in HCI Group by 7.9% in the 3rd quarter. Assetmark Inc. now owns 32,426 shares of the insurance provider’s stock valued at $6,224,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in HCI Group by 31.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 41,895 shares of the insurance provider’s stock worth $8,041,000 after purchasing an additional 10,134 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.