HCI Group (NYSE:HCI) Sets New 52-Week High on Earnings Beat

HCI Group, Inc. (NYSE:HCI)’s share price hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $129.48 and last traded at $129.07, with a volume of 8721 shares traded. The stock had previously closed at $123.96.

The insurance provider reported $0.31 EPS for the quarter, topping the consensus estimate of ($2.75) by $3.06. The company had revenue of $161.88 million for the quarter, compared to the consensus estimate of $175.11 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%.

HCI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, February 21st. HCI Group’s dividend payout ratio is currently 13.37%.

Analyst Upgrades and Downgrades

HCI has been the topic of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $145.00 price target on shares of HCI Group in a research report on Tuesday, December 17th. Oppenheimer lifted their price target on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

Institutional Trading of HCI Group

Several institutional investors have recently modified their holdings of HCI. Point72 DIFC Ltd grew its holdings in shares of HCI Group by 75.0% during the 3rd quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 213 shares in the last quarter. GAMMA Investing LLC boosted its stake in HCI Group by 28.4% in the 4th quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock valued at $60,000 after buying an additional 113 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in HCI Group by 49.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after buying an additional 300 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in HCI Group in the 4th quarter valued at $175,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in HCI Group in the 4th quarter valued at $211,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Trading Up 6.2 %

The company has a 50 day moving average of $119.38 and a 200 day moving average of $112.08. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 11.00 and a beta of 1.12.

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.