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

HCI Group (NYSE:HCI) was downgraded by investment analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat Ratings reports.

HCI has been the subject of several other research reports. Citizens Jmp upped their target price on HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HCI Group in a research note on Wednesday, October 8th. Truist Financial boosted their price target 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. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $230.00.

HCI Group Price Performance

Shares of HCI Group stock traded down $6.03 on Thursday, hitting $183.40. 28,711 shares of the company traded hands, compared to its average volume of 145,072. HCI Group has a 12-month low of $106.03 and a 12-month high of $210.50. The firm’s 50-day simple moving average is $189.96 and its 200 day simple moving average is $166.10. The company has a market cap of $2.38 billion, a P/E ratio of 16.26 and a beta of 1.16. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02.

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

Hedge Funds Weigh In On HCI Group

A number of hedge funds have recently made changes to their positions in HCI. Quent Capital LLC acquired a new position in HCI Group in the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of HCI Group by 557.6% during the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in HCI Group by 645.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 231 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of HCI Group during the second quarter worth about $46,000. Finally, Westside Investment Management Inc. raised 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 worth $47,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Company Profile

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.