HCI Group (NYSE:HCI) Announces Quarterly Earnings Results

HCI Group (NYSE:HCI) posted its earnings results on Wednesday. The insurance provider reported $6.45 EPS for the quarter, beating the consensus estimate of $4.96 by $1.49, FiscalAI reports. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. The firm had revenue of $244.91 million during the quarter, compared to the consensus estimate of $247.75 million.

HCI Group Trading Down 0.2%

HCI stock traded down $0.43 during trading on Wednesday, hitting $201.25. The company had a trading volume of 145,348 shares, compared to its average volume of 168,744. The stock has a market cap of $2.50 billion, a PE ratio of 8.67 and a beta of 0.96. The business has a 50-day moving average of $189.84 and a 200-day moving average of $171.15. 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 has a one year low of $144.75 and a one year high of $208.64.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 20th. This represents a $1.60 annualized dividend and a yield of 0.8%. HCI Group’s dividend payout ratio is presently 6.90%.

Analyst Ratings Changes

Several equities research analysts recently commented on HCI shares. Zacks Research upgraded shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Citizens Jmp upped their price target on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Truist Financial set a $235.00 price target on shares of HCI Group in a research note on Thursday, October 1st. Weiss Ratings lowered shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Citigroup reissued a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $241.67.

About HCI Group

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.