HCI Group (NYSE:HCI) Upgraded at Zacks Research

Zacks Research upgraded shares of HCI Group (NYSE:HCI) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks reports.

HCI has been the subject of several other reports. Truist Financial set a $235.00 price target on HCI Group in a research note on Thursday, October 1st. Cantor Fitzgerald initiated coverage on HCI Group in a research report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price objective on the stock. Citizens Jmp lifted their target price on HCI Group from $255.00 to $265.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of HCI Group in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $241.67.

HCI Group Trading Up 1.5%

Shares of HCI stock opened at $187.14 on Monday. HCI Group has a 12-month low of $144.75 and a 12-month high of $210.50. The company has a market capitalization of $2.33 billion, a PE ratio of 8.07 and a beta of 1.05. The firm has a 50 day moving average price of $183.57 and a two-hundred day moving average price of $169.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.03.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, beating the consensus estimate of $5.04 by $0.56. The company had revenue of $246.65 million for the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. As a group, analysts predict that HCI Group will post 20.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HCI. BlackRock Inc. bought a new position in HCI Group in the 2nd quarter valued at approximately $323,098,000. Freestone Grove Partners LP bought a new stake in shares of HCI Group during the second quarter worth $30,766,000. Arrowstreet Capital Limited Partnership grew its stake in shares of HCI Group by 2,944.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock worth $18,067,000 after buying an additional 113,019 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of HCI Group during the second quarter worth $17,422,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of HCI Group during the second quarter worth $13,805,000. 86.99% of the stock is owned by institutional investors.

HCI Group Company Profile

HCI Group, Inc is a holding company headquartered in Tampa, Florida, that operates businesses in property and casualty insurance, real estate, and insurance-related technology. Its principal activities center on providing property insurance products for residential policyholders, with an emphasis on coverage for homeowners and other property owners.

HCI’s insurance operations have historically served customers primarily in Florida and other U.S. markets through affiliated insurance companies, including Homeowners Choice Property & Casualty Insurance Company and TypTap Insurance Company.