HCI Group (NYSE:HCI) Announces Earnings Results

HCI Group (NYSE:HCI) posted its quarterly earnings data on Wednesday. The insurance provider reported $6.45 earnings per share for the quarter, topping the consensus estimate of $4.96 by $1.49, FiscalAI reports. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. The firm had revenue of $244.91 million during the quarter, compared to analyst estimates of $247.75 million.

HCI Group Stock Performance

HCI stock traded down $0.43 during mid-day trading on Wednesday, hitting $201.25. The company had a trading volume of 145,348 shares, compared to its average volume of 168,744. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $2.50 billion, a PE ratio of 8.67 and a beta of 0.96. HCI Group has a 12 month low of $144.75 and a 12 month high of $208.64. The stock’s fifty day moving average price is $189.84 and its two-hundred day moving average price is $171.15.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 20th. HCI Group’s payout ratio is presently 6.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HCI shares. Truist Financial set a $235.00 target price on HCI Group in a research report on Thursday, October 1st. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Citizens Jmp boosted their price target on HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Weiss Ratings lowered HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Citigroup restated a “market outperform” rating on shares of HCI Group in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $241.67.

About HCI Group

HCI Group, Inc is a Florida-based holding company focused primarily on property and casualty insurance. Through its insurance subsidiaries, the company provides residential property insurance products, including homeowners, condominium, renters and dwelling coverage, designed to protect policyholders against risks such as wind, fire, theft and other covered losses.

HCI’s insurance operations have historically been concentrated in Florida, one of the largest and most challenging residential property-insurance markets in the United States.