HCI Group (NYSE:HCI) Trading Up 3% – Here’s What Happened

HCI Group, Inc. (NYSE:HCI)’s share price shot up 3% on Wednesday . The stock traded as high as $145.30 and last traded at $144.64. 61,165 shares were traded during mid-day trading, a decline of 54% from the average session volume of 132,107 shares. The stock had previously closed at $140.47.

Analyst Upgrades and Downgrades

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

HCI Group Trading Up 1.7 %

The firm’s 50-day simple moving average is $128.04 and its 200 day simple moving average is $117.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.59 and a beta of 1.14.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, February 27th. The insurance provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of ($2.75) by $3.06. The company had revenue of $161.88 million during the quarter, compared to analysts’ expectations of $175.11 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. Equities analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a $0.40 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.06%. HCI Group’s dividend payout ratio (DPR) is currently 18.18%.

Institutional Investors Weigh In On HCI Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its position in HCI Group by 288.9% in the fourth quarter. Wasatch Advisors LP now owns 294,349 shares of the insurance provider’s stock valued at $34,300,000 after buying an additional 218,664 shares in the last quarter. Khrom Capital Management LLC lifted its stake in shares of HCI Group by 20.7% in the 4th quarter. Khrom Capital Management LLC now owns 796,170 shares of the insurance provider’s stock valued at $92,778,000 after acquiring an additional 136,642 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of HCI Group by 15.7% during the 4th quarter. Hood River Capital Management LLC now owns 940,000 shares of the insurance provider’s stock valued at $109,538,000 after acquiring an additional 127,332 shares in the last quarter. Balyasny Asset Management L.P. grew its position in HCI Group by 2,878.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider’s stock worth $13,365,000 after acquiring an additional 110,838 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in HCI Group by 196.5% in the 3rd quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock worth $16,252,000 after purchasing an additional 100,600 shares in the last quarter. 86.99% of the stock is owned by 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.