HCI Group, Inc. (NYSE:HCI) Given Average Recommendation of “Buy” by Brokerages

Shares of HCI Group, Inc. (NYSE:HCI) have earned an average rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $127.75.

HCI has been the subject of several analyst reports. 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 raised HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Compass Point raised 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. JMP Securities lifted their target price on HCI Group from $120.00 to $135.00 and gave the stock a “market outperform” rating in a report on Thursday, May 9th. Finally, StockNews.com raised HCI Group from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

HCI Group Price Performance

Shares of HCI opened at $92.17 on Monday. The stock has a market capitalization of $965.57 million, a P/E ratio of 9.38 and a beta of 1.11. HCI Group has a twelve month low of $48.84 and a twelve month high of $121.57. The company has a 50 day moving average of $101.22 and a 200-day moving average of $99.75. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.46.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.91. The company had revenue of $206.61 million during the quarter, compared to analysts’ expectations of $189.17 million. HCI Group had a net margin of 17.72% and a return on equity of 40.30%. As a group, equities research analysts forecast that HCI Group will post 11.68 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 17th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, May 16th. HCI Group’s payout ratio is currently 16.28%.

Insider Buying and Selling

In other HCI Group news, General Counsel Andrew L. Graham sold 29,008 shares of HCI Group stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $117.01, for a total value of $3,394,226.08. Following the transaction, the general counsel now owns 21,819 shares in the company, valued at $2,553,041.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Paresh Patel purchased 500 shares of HCI Group stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the acquisition, the chief executive officer now owns 349,500 shares in the company, valued at approximately $38,794,500. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew L. Graham sold 29,008 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $117.01, for a total value of $3,394,226.08. Following the sale, the general counsel now owns 21,819 shares in the company, valued at $2,553,041.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,041 shares of company stock worth $6,195,175. Company insiders own 25.25% of the company’s stock.

Institutional Trading of HCI Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Khrom Capital Management LLC increased its position in HCI Group by 792.2% during the 1st quarter. Khrom Capital Management LLC now owns 180,506 shares of the insurance provider’s stock valued at $20,953,000 after purchasing an additional 160,274 shares during the period. Wellington Management Group LLP acquired a new stake in HCI Group during the 4th quarter valued at approximately $5,633,000. Assenagon Asset Management S.A. increased its position in HCI Group by 344.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider’s stock valued at $8,360,000 after purchasing an additional 55,817 shares during the period. Vanguard Group Inc. increased its position in HCI Group by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock valued at $58,034,000 after purchasing an additional 31,234 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in HCI Group by 304.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 32,027 shares of the insurance provider’s stock valued at $2,799,000 after purchasing an additional 24,117 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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.