HCI Group (NYSE:HCI) Posts Quarterly Earnings Results, Beats Estimates By $2.38 EPS

HCI Group (NYSE:HCI) posted its quarterly earnings results on Wednesday. The insurance provider reported $7.25 EPS for the quarter, beating the consensus estimate of $4.87 by $2.38, FiscalAI reports. The firm had revenue of $246.24 million during the quarter, compared to analysts’ expectations of $232.36 million. HCI Group had a return on equity of 31.18% and a net margin of 24.97%.

HCI Group Stock Performance

Shares of HCI stock traded up $7.06 during mid-day trading on Wednesday, reaching $163.66. The stock had a trading volume of 126,133 shares, compared to its average volume of 148,557. HCI Group has a one year low of $119.57 and a one year high of $210.50. The firm has a market cap of $2.12 billion, a PE ratio of 10.45 and a beta of 1.21. The firm’s 50 day simple moving average is $171.35 and its 200 day simple moving average is $177.59. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, February 20th. HCI Group’s payout ratio is currently 10.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HCI. Captrust Financial Advisors increased its holdings in HCI Group by 2.0% in the 4th quarter. Captrust Financial Advisors now owns 4,711 shares of the insurance provider’s stock valued at $903,000 after buying an additional 91 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in HCI Group by 2.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,794 shares of the insurance provider’s stock worth $920,000 after purchasing an additional 94 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of HCI Group by 0.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,253 shares of the insurance provider’s stock valued at $2,157,000 after purchasing an additional 98 shares during the period. Transamerica Financial Advisors LLC raised its holdings in shares of HCI Group by 519.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider’s stock worth $31,000 after buying an additional 135 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in HCI Group by 5.8% in the 2nd quarter. NewEdge Advisors LLC now owns 2,750 shares of the insurance provider’s stock valued at $419,000 after buying an additional 150 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HCI. Citizens Jmp lifted their target price on shares of HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a report on Monday, November 10th. Wall Street Zen raised shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of HCI Group in a research note on Monday, December 29th. Citigroup restated a “market outperform” rating on shares of HCI Group in a research note on Friday, January 16th. Finally, Zacks Research lowered HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.67.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.