HCI Group (NYSE:HCI) Downgraded to “Market Perform” Rating by Oppenheimer

Oppenheimer lowered shares of HCI Group (NYSE:HCI) from an outperform rating to a market perform rating in a report released on Thursday morning, Marketbeat reports.

A number of other research analysts have also recently issued reports on HCI. Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of HCI Group in a research report on Wednesday, October 8th. Truist Financial boosted their price objective on HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Citizens Jmp increased their target price on HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a report on Monday. Finally, Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $230.00.

HCI Group Price Performance

Shares of NYSE:HCI traded down $4.11 on Thursday, hitting $179.66. The stock had a trading volume of 223,727 shares, compared to its average volume of 146,007. The firm’s 50 day moving average price is $190.33 and its 200-day moving average price is $166.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71. HCI Group has a twelve month low of $106.03 and a twelve month high of $210.50. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 15.93 and a beta of 1.16.

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

HCI Group Announces Dividend

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

Institutional Investors Weigh In On HCI Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in HCI Group in the third quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 184 shares during the period. Aster Capital Management DIFC Ltd raised its position in shares of HCI Group by 645.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 231 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 200 shares during the period. Global Assets Advisory LLC bought a new position in HCI Group during the 2nd quarter worth approximately $46,000. Finally, Westside Investment Management Inc. grew its holdings in HCI Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 252 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 126 shares during the period. Institutional investors own 86.99% of the company’s stock.

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.