HCI Group, Inc. (NYSE:HCI) Receives Consensus Recommendation of "Buy" from Brokerages

HCI Group, Inc. (NYSE:HCI) has received a consensus rating of "Buy" from seven research firms, with one rating it as "hold," five as "buy," and one as "strong buy." The average 12-month price target is $230.00. Recent analyst actions include Oppenheimer downgrading to "market perform" and Zacks upgrading to "strong-buy." The company reported strong quarterly earnings and announced a quarterly dividend of $0.40 per share. Hedge funds have been adjusting their positions in the company.

HCI Group, Inc. (NYSE:HCI - Get Free Report) has received an average rating of "Buy" from the seven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $230.00.

Interest rates propel insurers' earnings to new highs

Several equities research analysts recently commented on the stock. Oppenheimer lowered shares of HCI Group from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 13th. Weiss Ratings restated a "buy (b)" rating on shares of HCI Group in a research note on Wednesday. Zacks Research upgraded HCI Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 8th. Truist Financial boosted their target price on HCI Group from $190.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, November 7th. Finally, Citizens Jmp raised their price target on HCI Group from $225.00 to $255.00 and gave the company a "market outperform" rating in a report on Monday, November 10th.

Read Our Latest Stock Report on HCI Group

HCI Group Stock Up 1.2%

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Shares of HCI traded up $2.08 on Friday, reaching $172.47. The stock had a trading volume of 259,445 shares, compared to its average volume of 146,746. 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 12-month low of $106.89 and a 12-month high of $210.50. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.29 and a beta of 1.16. The company has a 50-day simple moving average of $189.79 and a 200-day simple moving average of $167.37.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $223.53 million. HCI Group had a return on equity of 25.84% and a net margin of 18.58%. Sell-side analysts predict that HCI Group will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The company also recently announced 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. 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 dividend payout ratio is currently 10.22%.

Hedge Funds Weigh In On HCI Group

A number of hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in HCI Group by 22.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,886 shares of the insurance provider's stock valued at $1,326,000 after purchasing an additional 1,612 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of HCI Group during the first quarter valued at $274,000. Victory Capital Management Inc. boosted its position in shares of HCI Group by 6.7% during the first quarter. Victory Capital Management Inc. now owns 22,897 shares of the insurance provider's stock valued at $3,417,000 after buying an additional 1,443 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in HCI Group by 45.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,361 shares of the insurance provider's stock worth $1,696,000 after buying an additional 3,562 shares in the last quarter. Finally, Royce & Associates LP raised its position in HCI Group by 25.7% in the 1st quarter. Royce & Associates LP now owns 12,018 shares of the insurance provider's stock worth $1,793,000 after buying an additional 2,458 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

About HCI Group

(Get Free Report)

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.

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