HCI Group (NYSE:HCI) Hits New 12-Month High – Time to Buy?

Shares of HCI Group, Inc. (NYSE:HCI) hit a new 52-week high on Friday . The stock traded as high as $124.95 and last traded at $121.89, with a volume of 22645 shares changing hands. The stock had previously closed at $116.71.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HCI. Compass Point reissued a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. JMP Securities restated a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a research report on Tuesday, October 15th. Oppenheimer upped their price objective on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial raised their target price on HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Stock Up 4.4 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The business’s 50 day moving average is $112.53 and its 200-day moving average is $100.75. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 10.18 and a beta of 1.12.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. HCI Group’s dividend payout ratio is currently 13.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of HCI Group during the second quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new position in HCI Group in the 2nd quarter valued at $31,000. GAMMA Investing LLC raised its stake in HCI Group by 80.9% in the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 178 shares during the last quarter. CWM LLC lifted its holdings in HCI Group by 115.4% in the 2nd quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 495 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in HCI Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock worth $98,000 after purchasing an additional 300 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

About HCI Group

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.