HCI Group (NYSE:HCI) Given New $150.00 Price Target at Oppenheimer

HCI Group (NYSE:HCI) had its price objective increased by Oppenheimer from $140.00 to $150.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other research firms have also issued reports on HCI. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Compass Point restated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Truist Financial increased their price objective on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com downgraded HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Stock Up 2.8 %

Shares of NYSE HCI traded up $3.23 during mid-day trading on Friday, reaching $118.70. 387,528 shares of the company’s stock traded hands, compared to its average volume of 158,144. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44. The business has a 50-day simple moving average of $108.46 and a 200 day simple moving average of $100.58. The stock has a market cap of $1.24 billion, a P/E ratio of 9.92 and a beta of 1.12. HCI Group has a 1-year low of $74.50 and a 1-year high of $124.00.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.63. The business had revenue of $206.25 million during the quarter, compared to the consensus estimate of $196.67 million. HCI Group had a return on equity of 44.01% and a net margin of 21.63%. During the same quarter in the previous year, the business earned $1.22 EPS. On average, analysts expect that HCI Group will post 6.15 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, November 15th. HCI Group’s dividend payout ratio is currently 13.37%.

Institutional Investors Weigh In On HCI Group

A number of hedge funds have recently modified their holdings of HCI. New York State Teachers Retirement System raised its position in shares of HCI Group by 1.5% in the third quarter. New York State Teachers Retirement System now owns 10,393 shares of the insurance provider’s stock valued at $1,113,000 after purchasing an additional 155 shares during the period. Thrivent Financial for Lutherans grew its stake in HCI Group by 2.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,088 shares of the insurance provider’s stock valued at $561,000 after buying an additional 174 shares in the last quarter. GAMMA Investing LLC raised its holdings in HCI Group by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 178 shares during the period. Swiss National Bank lifted its position in shares of HCI Group by 1.4% during the first quarter. Swiss National Bank now owns 14,400 shares of the insurance provider’s stock worth $1,672,000 after acquiring an additional 200 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of HCI Group by 10.3% in the third quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 225 shares during the period. Institutional investors own 86.99% of the company’s stock.

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.