HCI Group (NYSE:HCI) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of HCI Group (NYSE:HCI) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $120.00 target price on the insurance provider’s stock.

Several other research analysts have also issued reports on the stock. Oppenheimer reaffirmed an outperform rating and issued a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th. 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. 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, Compass Point raised their target price on shares of HCI Group from $90.00 to $124.00 and gave the company a buy rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $124.00.

HCI Group Stock Down 1.7 %

Shares of NYSE:HCI opened at $109.95 on Monday. HCI Group has a 12 month low of $48.08 and a 12 month high of $121.57. The company’s 50-day moving average price is $106.79 and its two-hundred day moving average price is $88.30. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.10 billion, a P/E ratio of 14.54 and a beta of 1.14.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The firm had revenue of $162.67 million for the quarter, compared to analyst estimates of $146.09 million. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, research analysts forecast that HCI Group will post 10.33 EPS for the current fiscal year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, February 15th. HCI Group’s payout ratio is 21.16%.

Insider Buying and Selling

In related news, insider Anthony Saravanos sold 12,967 shares of HCI Group stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the transaction, the insider now owns 67,033 shares of the company’s stock, valued at approximately $7,843,531.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Paresh Patel bought 1,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were purchased at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the acquisition, the chief executive officer now owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony Saravanos sold 12,967 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the sale, the insider now owns 67,033 shares in the company, valued at $7,843,531.33. The disclosure for this sale can be found here. Insiders have sold 113,102 shares of company stock valued at $13,198,303 in the last 90 days. 25.25% of the stock is owned by insiders.

Institutional Trading of HCI Group

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in HCI Group by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,077,392 shares of the insurance provider’s stock worth $66,561,000 after buying an additional 4,127 shares during the period. Vanguard Group Inc. raised its holdings in shares of HCI Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 558,696 shares of the insurance provider’s stock valued at $38,092,000 after purchasing an additional 21,054 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of HCI Group by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 380,933 shares of the insurance provider’s stock valued at $25,972,000 after purchasing an additional 9,798 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of HCI Group by 14.0% in the fourth quarter. Voya Investment Management LLC now owns 305,506 shares of the insurance provider’s stock valued at $26,701,000 after purchasing an additional 37,465 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of HCI Group by 3.8% in the second quarter. State Street Corp now owns 221,412 shares of the insurance provider’s stock valued at $15,003,000 after purchasing an additional 8,145 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

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.