HCI Group (NYSE:HCI) Price Target Increased to $135.00 by Analysts at JMP Securities

HCI Group (NYSE:HCI) had its target price upped by equities researchers at JMP Securities from $120.00 to $135.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the insurance provider’s stock. JMP Securities’ price target would suggest a potential upside of 28.74% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Compass Point lifted their price target on HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a research report on Friday, April 5th. William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. Finally, Truist Financial raised their target price on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $127.75.

HCI Group Stock Performance

NYSE:HCI traded down $10.40 during midday trading on Thursday, reaching $104.86. 843,353 shares of the company traded hands, compared to its average volume of 139,088. HCI Group has a twelve month low of $48.84 and a twelve month high of $121.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The company has a fifty day moving average price of $111.77 and a 200 day moving average price of $94.24. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 13.87 and a beta of 1.15.

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

Insider Transactions at HCI Group

In other news, CEO Paresh Patel bought 1,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average cost of $114.90 per share, with a total value of $114,900.00. Following the completion of the transaction, the chief executive officer now directly owns 349,000 shares in the company, valued at approximately $40,100,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the completion of the sale, the general counsel now directly owns 57,630 shares in the company, valued at $6,709,284.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paresh Patel purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were bought at an average price of $114.90 per share, with a total value of $114,900.00. Following the completion of the acquisition, the chief executive officer now owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The disclosure for this purchase can be found here. Insiders have sold 113,102 shares of company stock valued at $13,198,303 in the last quarter. Insiders own 25.25% of the company’s stock.

Institutional Trading of HCI Group

Several institutional investors have recently made changes to their positions in HCI. Quest Partners LLC acquired a new stake in shares of HCI Group during the fourth quarter worth approximately $28,000. Quantbot Technologies LP bought a new position in shares of HCI Group in the third quarter valued at approximately $62,000. SG Americas Securities LLC bought a new position in shares of HCI Group in the fourth quarter valued at approximately $155,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of HCI Group by 399.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,773 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 1,418 shares during the period. Finally, Cedar Brook Financial Partners LLC bought a new position in shares of HCI Group in the fourth quarter valued at approximately $201,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.