HCI Group (NYSE:HCI) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of HCI Group (NYSE:HCI) in a research note released on Monday, Benzinga reports. JMP Securities currently has a $120.00 price objective on the insurance provider’s stock.

A number of other research analysts also recently weighed in on the company. Truist Financial increased their price target on HCI Group from $96.00 to $112.00 and gave the company a buy rating in a research note on Friday, January 12th. Oppenheimer reissued an outperform rating and issued a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th. William Blair upgraded HCI Group from a market perform rating to an outperform rating in a research report on Friday, March 8th. Finally, Compass Point upped their price target on HCI Group from $90.00 to $124.00 and gave the company a buy rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $124.00.

HCI Group Stock Performance

Shares of NYSE:HCI opened at $110.68 on Monday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 14.64 and a beta of 1.14. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group has a 1-year low of $48.08 and a 1-year high of $121.57. The business has a 50-day moving average price of $107.15 and a two-hundred day moving average price of $88.46.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The business had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. During the same period in the previous year, the firm posted $0.06 earnings per share. Equities analysts predict that HCI Group will post 10.33 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 16th were issued a $0.40 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. HCI Group’s dividend payout ratio (DPR) is currently 21.16%.

Insider Transactions at HCI Group

In related news, Director Sanjay Madhu sold 3,294 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total value of $391,063.68. Following the completion of the transaction, the director now directly owns 71,706 shares in the company, valued at approximately $8,512,936.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Paresh Patel purchased 500 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $111.00 per share, with a total value of $55,500.00. Following the purchase, the chief executive officer now directly owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sanjay Madhu sold 3,294 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total value of $391,063.68. Following the transaction, the director now directly owns 71,706 shares of the company’s stock, valued at $8,512,936.32. The disclosure for this sale can be found here. Insiders have sold a total of 113,102 shares of company stock valued at $13,198,303 over the last 90 days. 25.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On HCI Group

A number of large investors have recently bought and sold shares of HCI. FMR LLC boosted its holdings in HCI Group by 80.7% during the first quarter. FMR LLC now owns 468 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 209 shares during the last quarter. Quest Partners LLC bought a new position in shares of HCI Group in the 4th quarter valued at about $28,000. Captrust Financial Advisors increased its position in shares of HCI Group by 112.7% in the first quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 257 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in HCI Group by 1,807.1% during the second quarter. Point72 Hong Kong Ltd now owns 534 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 506 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in HCI Group during the third quarter valued at approximately $62,000. 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.