HCI Group, Inc. (NYSE:HCI) Stock Has Average Price Target of $241.67

Shares of HCI Group, Inc. (NYSE:HCI) have received an average recommendation of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $241.67.

Several brokerages have recently weighed in on HCI. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a report on Friday, August 7th. Truist Financial set a $235.00 target price on HCI Group in a research note on Thursday, October 1st. Weiss Ratings lowered HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Cantor Fitzgerald assumed coverage on HCI Group in a research note on Thursday, July 9th. They set an “overweight” rating and a $225.00 price target on the stock.

Institutional Investors Weigh In On HCI Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of HCI Group in the second quarter worth approximately $323,098,000. Dimensional Fund Advisors LP lifted its holdings in shares of HCI Group by 11.4% in the first quarter. Dimensional Fund Advisors LP now owns 354,884 shares of the insurance provider’s stock valued at $54,870,000 after purchasing an additional 36,348 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of HCI Group in the second quarter valued at approximately $30,766,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of HCI Group by 2,944.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock valued at $18,067,000 after purchasing an additional 113,019 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of HCI Group during the second quarter valued at approximately $17,422,000. Institutional investors own 86.99% of the company’s stock.

HCI Group Stock Up 0.7%

HCI Group stock opened at $199.85 on Tuesday. 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 has a 12-month low of $144.75 and a 12-month high of $210.50. The firm’s fifty day moving average is $186.02 and its 200 day moving average is $172.26. The company has a market capitalization of $2.49 billion, a PE ratio of 8.56 and a beta of 1.05.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.56. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. The business had revenue of $246.65 million for the quarter, compared to analyst estimates of $247.43 million. As a group, sell-side analysts predict that HCI Group will post 21.04 EPS for the current fiscal year.

About HCI Group

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.