HCI Group (NYSE:HCI) Shares Gap Up Following Earnings Beat

Shares of HCI Group, Inc. (NYSE:HCI) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $163.50, but opened at $179.63. HCI Group shares last traded at $174.1850, with a volume of 19,450 shares traded.

The insurance provider reported $7.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $2.38. The firm had revenue of $246.24 million for the quarter, compared to analyst estimates of $232.36 million. HCI Group had a return on equity of 31.18% and a net margin of 24.97%.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio is currently 10.22%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a report on Friday, January 16th. Citizens Jmp upped their price target on HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “buy (b)” rating on shares of HCI Group in a research note on Monday, December 29th. Oppenheimer lowered HCI Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 13th. Finally, Truist Financial lifted their price target on shares of HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, HCI Group has a consensus rating of “Moderate Buy” and a consensus target price of $231.67.

Institutional Investors Weigh In On HCI Group

Several institutional investors have recently bought and sold shares of HCI. Quent Capital LLC bought a new position in HCI Group during the 3rd quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of HCI Group in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC lifted its position in shares of HCI Group by 519.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in HCI Group by 557.6% during the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 184 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in HCI Group by 62.8% during the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Stock Up 4.3%

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.21 billion, a P/E ratio of 10.89 and a beta of 1.21. The stock’s 50-day simple moving average is $170.91 and its 200-day simple moving average is $177.49.

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.