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

HCI Group, Inc. (NYSE:HCI)’s stock price was up 4.6% during trading on Friday . The company traded as high as $156.49 and last traded at $157.16. Approximately 62,385 shares were traded 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HCI shares. Wall Street Zen downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Zacks Research downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings upgraded HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, HCI Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.00.

HCI Group Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day simple moving average of $154.34 and a 200-day simple moving average of $165.17. The firm has a market capitalization of $2.01 billion, a PE ratio of 6.92 and a beta of 1.08.

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

HCI Group Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HCI. Royal Bank of Canada grew its stake in shares of HCI Group by 5.5% during the first quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider’s stock valued at $2,093,000 after buying an additional 727 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of HCI Group by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider’s stock valued at $736,000 after buying an additional 228 shares during the last quarter. Millennium Management LLC grew its stake in shares of HCI Group by 78.7% during the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider’s stock valued at $15,278,000 after buying an additional 45,097 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of HCI Group by 115.9% during the second quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider’s stock valued at $213,000 after buying an additional 751 shares during the last quarter. Finally, 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 valued at $33,000 after buying an additional 184 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Company Profile

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.