JMP Securities Reiterates Market Outperform Rating for HCI Group (NYSE:HCI)

JMP Securities reiterated their market outperform rating on shares of HCI Group (NYSE:HCI) in a report released on Monday morning, Benzinga reports. JMP Securities currently has a $120.00 price objective on the insurance provider’s stock.

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

HCI Group Stock Performance

Shares of NYSE HCI opened at $110.68 on Monday. HCI Group has a 1 year low of $48.08 and a 1 year high of $121.57. The firm has a market cap of $1.10 billion, a P/E ratio of 14.64 and a beta of 1.14. The stock has a fifty day moving average price of $107.15 and a two-hundred day moving average price of $88.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62.

HCI Group (NYSE:HCI) last announced its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.41 by $1.81. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. The business had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. During the same quarter last year, the business posted $0.06 earnings per share. Research analysts forecast that HCI Group will post 10.33 EPS for the current fiscal year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, February 15th. HCI Group’s dividend payout ratio (DPR) is currently 21.16%.

Insider Activity

In other HCI Group news, CEO Paresh Patel purchased 500 shares of the stock in a transaction dated Thursday, April 11th. The shares were acquired at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the acquisition, the chief executive officer now owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other HCI Group news, Director Sanjay Madhu sold 3,294 shares of the stock in a transaction that occurred on 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 sale, the director now owns 71,706 shares in the company, valued at approximately $8,512,936.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paresh Patel bought 500 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $111.00 per share, with a total value of $55,500.00. Following the purchase, the chief executive officer now directly owns 349,500 shares in the company, valued at $38,794,500. The disclosure for this purchase can be found here. Insiders sold 113,102 shares of company stock worth $13,198,303 over the last quarter. Corporate insiders own 25.25% of the company’s stock.

Institutional Trading of HCI Group

Several hedge funds and other institutional investors have recently modified their holdings of HCI. BlackRock Inc. increased its position in HCI Group by 0.4% in the 2nd quarter. BlackRock Inc. now owns 1,077,392 shares of the insurance provider’s stock worth $66,561,000 after purchasing an additional 4,127 shares during the last quarter. Vanguard Group Inc. increased its holdings in HCI Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 558,696 shares of the insurance provider’s stock worth $38,092,000 after buying an additional 21,054 shares during the last quarter. Dimensional Fund Advisors LP raised its position in HCI Group by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 380,933 shares of the insurance provider’s stock valued at $25,972,000 after acquiring an additional 9,798 shares in the last quarter. Voya Investment Management LLC raised its position in HCI Group by 14.0% during the fourth quarter. Voya Investment Management LLC now owns 305,506 shares of the insurance provider’s stock valued at $26,701,000 after acquiring an additional 37,465 shares in the last quarter. Finally, State Street Corp lifted its stake in HCI Group by 3.8% in the second quarter. State Street Corp now owns 221,412 shares of the insurance provider’s stock valued at $15,003,000 after acquiring an additional 8,145 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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.