HCI Group (NYSE:HCI) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

HCI Group, Inc. (NYSE:HCI)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $172.61 and traded as high as $205.56. HCI Group shares last traded at $203.8990, with a volume of 300,372 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HCI. Truist Financial set a $235.00 price target on shares of HCI Group in a research note on Thursday, October 1st. Citizens Jmp increased their price target on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Weiss Ratings cut shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Cantor Fitzgerald initiated coverage on shares of HCI Group in a report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price objective on the stock. 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 company’s stock. According to data from MarketBeat.com, HCI Group currently has a consensus rating of “Buy” and an average target price of $241.67.

HCI Group Stock Up 1.2%

The firm has a 50 day moving average of $187.24 and a two-hundred day moving average of $173.35. The stock has a market capitalization of $2.57 billion, a PE ratio of 8.81 and a beta of 1.05. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.56. The company had revenue of $246.65 million for the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. Equities research analysts anticipate that HCI Group, Inc. will post 21.04 earnings per share for the current year.

HCI Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. HCI Group’s payout ratio is currently 6.90%.

Institutional Investors Weigh In On HCI Group

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in HCI Group during the second quarter worth approximately $17,422,000. Legal & General Group Plc purchased a new position in shares of HCI Group during the 2nd quarter worth about $4,650,000. Canada Pension Plan Investment Board acquired a new stake in shares of HCI Group in the second quarter worth approximately $719,000. The Manufacturers Life Insurance Company acquired a new stake in shares of HCI Group in the second quarter worth approximately $981,000. Finally, Odyssean LLC grew its holdings in HCI Group by 112.4% in the second quarter. Odyssean LLC now owns 18,528 shares of the insurance provider’s stock valued at $3,247,000 after purchasing an additional 9,805 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Company Profile

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.