HCI Group, Inc. (NYSE:HCI) Stock Has Consensus Target Price of $241.67

HCI Group, Inc. (NYSE:HCI) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $241.67.

HCI has been the topic of several research analyst reports. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research report on Friday, August 7th. Cantor Fitzgerald assumed coverage on shares of HCI Group in a report on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price objective for the company. Citizens Jmp lifted their price objective on HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Weiss Ratings downgraded HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st.

HCI Group Stock Performance

NYSE:HCI opened at $176.96 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $183.16 and its 200 day simple moving average is $168.64. The stock has a market cap of $2.20 billion, a P/E ratio of 7.63 and a beta of 1.03. HCI Group has a twelve month low of $144.75 and a twelve month high of $210.50.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, topping the consensus estimate of $5.04 by $0.56. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. The business had revenue of $246.65 million during the quarter, compared to analyst estimates of $247.43 million. As a group, research analysts predict that HCI Group will post 20.08 EPS for the current year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 21st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 21st. HCI Group’s dividend payout ratio is presently 6.90%.

Hedge Funds Weigh In On HCI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCI. Tidal Investments LLC purchased a new stake in shares of HCI Group in the 2nd quarter worth about $236,000. Integrated Wealth Concepts LLC bought a new position in shares of HCI Group in the 2nd quarter worth about $57,000. IFP Advisors Inc lifted its position in HCI Group by 21.9% during the 2nd quarter. IFP Advisors Inc now owns 828 shares of the insurance provider’s stock valued at $145,000 after acquiring an additional 149 shares during the period. Allworth Financial LP boosted its stake in HCI Group by 51.5% during the second quarter. Allworth Financial LP now owns 812 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 276 shares in the last quarter. Finally, Nykredit A S bought a new stake in HCI Group during the second quarter worth about $33,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About HCI Group

HCI Group, Inc is a diversified insurance holding company headquartered in Tampa, Florida. The company’s primary business is property and casualty insurance, with a focus on homeowners and residential property coverage. Its insurance operations serve policyholders in Florida and other states, subject to regulatory approvals and market availability.

HCI’s insurance subsidiaries include Homeowners Choice Property & Casualty Insurance Company, which provides property insurance, and TypTap Insurance Company, a technology-focused insurer offering homeowners and related coverage.