HCI Group (NYSE:HCI) Reaches New 52-Week High – Should You Buy?

HCI Group, Inc. (NYSE:HCI)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $140.78 and last traded at $140.98, with a volume of 4501 shares traded. The stock had previously closed at $139.32.

Wall Street Analyst Weigh In

Separately, Truist Financial reissued a “buy” rating and set a $145.00 price objective on shares of HCI Group in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

HCI Group Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $1.49 billion, a P/E ratio of 11.57 and a beta of 1.14. The company has a 50-day moving average of $123.61 and a 200 day moving average of $115.06.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, February 27th. The insurance provider reported $0.31 EPS for the quarter, topping the consensus estimate of ($2.75) by $3.06. The business had revenue of $161.88 million during the quarter, compared to the consensus estimate of $175.11 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. On average, sell-side analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.16%. HCI Group’s dividend payout ratio (DPR) is presently 18.18%.

Hedge Funds Weigh In On HCI Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of HCI Group by 77.3% during the 3rd quarter. Barclays PLC now owns 15,501 shares of the insurance provider’s stock worth $1,659,000 after buying an additional 6,756 shares during the period. Royce & Associates LP bought a new position in HCI Group in the 3rd quarter valued at $621,000. Victory Capital Management Inc. raised its position in HCI Group by 152.7% in the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock valued at $2,380,000 after purchasing an additional 13,434 shares during the last quarter. Principal Financial Group Inc. raised its position in HCI Group by 16.4% in the 3rd quarter. Principal Financial Group Inc. now owns 56,180 shares of the insurance provider’s stock valued at $6,015,000 after purchasing an additional 7,914 shares during the last quarter. Finally, FMR LLC raised its position in HCI Group by 49.6% in the 3rd quarter. FMR LLC now owns 32,571 shares of the insurance provider’s stock valued at $3,487,000 after purchasing an additional 10,795 shares during the last quarter. 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.