HCI Group (NYSE:HCI) Sees Large Volume Increase After Analyst Upgrade

HCI Group, Inc. (NYSE:HCI) saw an uptick in trading volume on Thursday after JMP Securities raised their price target on the stock from $120.00 to $135.00. JMP Securities currently has a market outperform rating on the stock. 262,443 shares changed hands during trading, an increase of 98% from the previous session’s volume of 132,545 shares.The stock last traded at $106.57 and had previously closed at $115.26.

Several other analysts have also issued reports on HCI. Compass Point boosted their target price on HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Truist Financial increased their target price on shares of HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a report on Friday, April 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, HCI Group has a consensus rating of “Moderate Buy” and an average target price of $127.75.

Insider Activity at HCI Group

In other HCI Group news, Director Sanjay Madhu sold 3,294 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total transaction of $391,063.68. Following the transaction, the director now owns 71,706 shares in the company, valued at approximately $8,512,936.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sanjay Madhu sold 3,294 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $118.72, for a total value of $391,063.68. Following the completion of the transaction, the director now directly owns 71,706 shares in the company, valued at approximately $8,512,936.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paresh Patel purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was bought at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the transaction, the chief executive officer now owns 349,000 shares in the company, valued at $40,100,100. The disclosure for this purchase can be found here. Insiders have sold a total of 113,102 shares of company stock worth $13,198,303 over the last quarter. Corporate insiders own 25.25% of the company’s stock.

Hedge Funds Weigh In On HCI Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of HCI Group in the 4th quarter worth $5,633,000. Assenagon Asset Management S.A. grew its stake in shares of HCI Group by 344.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider’s stock valued at $8,360,000 after purchasing an additional 55,817 shares during the period. Los Angeles Capital Management LLC increased its position in shares of HCI Group by 304.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 32,027 shares of the insurance provider’s stock valued at $2,799,000 after purchasing an additional 24,117 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of HCI Group by 271.1% in the 1st quarter. BNP Paribas Financial Markets now owns 30,783 shares of the insurance provider’s stock worth $3,573,000 after purchasing an additional 22,489 shares during the period. Finally, Monashee Investment Management LLC purchased a new position in shares of HCI Group in the fourth quarter worth approximately $1,730,000. 86.99% of the stock is owned by institutional investors.

HCI Group Trading Down 8.8 %

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 capitalization of $1.08 billion, a PE ratio of 13.90 and a beta of 1.15. The stock’s fifty day simple moving average is $111.77 and its 200 day simple moving average is $94.24.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. The company had revenue of $162.67 million for the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same quarter last year, the business earned $0.06 EPS. On average, sell-side analysts predict that HCI Group, Inc. will post 10.33 earnings per share for the current year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 16th. HCI Group’s payout ratio is currently 21.16%.

HCI Group Company Profile

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.