HCI Group (NYSE:HCI) Trading Up 4.6% – Here’s Why

HCI Group, Inc. (NYSE:HCI)’s stock price was up 4.6% during mid-day trading on Friday . The stock traded as high as $156.49 and last traded at $157.16. Approximately 62,385 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 167,326 shares. The stock had previously closed at $150.23.

Analyst Ratings Changes

Several research analysts recently issued reports on HCI shares. Wall Street Zen cut HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings raised HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Zacks Research cut HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.00.

HCI Group Stock Performance

The firm has a fifty day moving average price of $154.34 and a 200 day moving average price of $165.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $2.01 billion, a PE ratio of 6.92 and a beta of 1.08.

HCI Group (NYSE:HCI) last issued its earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.26 by $0.19. The company had revenue of $242.88 million during the quarter, compared to analyst estimates of $245.09 million. HCI Group had a return on equity of 30.88% and a net margin of 32.64%. Research analysts forecast that HCI Group, Inc. will post 17.82 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, May 15th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. HCI Group’s dividend payout ratio (DPR) is 7.02%.

Hedge Funds Weigh In On HCI Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in HCI Group in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC raised its stake in HCI Group by 519.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 135 shares during the last quarter. Farther Finance Advisors LLC raised its stake in HCI Group by 62.8% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 71 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in HCI Group by 557.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 184 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its stake in HCI Group by 645.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 231 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.