HCI Group (NYSE:HCI) Sees Strong Trading Volume – Here’s Why

Shares of HCI Group, Inc. (NYSE:HCI) saw unusually-strong trading volume on Tuesday . Approximately 202,833 shares changed hands during mid-day trading, an increase of 47% from the previous session’s volume of 137,801 shares.The stock last traded at $148.50 and had previously closed at $149.23.

Wall Street Analyst Weigh In

Separately, Truist Financial reiterated a “buy” rating and set a $145.00 target price 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 assigned a buy rating to the stock. According to data from MarketBeat, HCI Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

HCI Group Stock Performance

The business’s fifty day moving average is $129.17 and its 200-day moving average is $118.84. The company has a market cap of $1.61 billion, a PE ratio of 12.46 and a beta of 1.14. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.75) by $3.06. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. The business had revenue of $161.88 million during the quarter, compared to analyst estimates of $175.11 million. As a group, research analysts predict that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, February 21st. HCI Group’s payout ratio is 18.18%.

Hedge Funds Weigh In On HCI Group

A number of hedge funds have recently modified their holdings of HCI. Point72 DIFC Ltd raised its position in shares of HCI Group by 75.0% during the 3rd quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 213 shares during the period. GAMMA Investing LLC raised its holdings in HCI Group by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock valued at $60,000 after acquiring an additional 113 shares during the period. KLP Kapitalforvaltning AS bought a new stake in HCI Group during the fourth quarter valued at about $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of HCI Group in the fourth quarter valued at about $211,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of HCI Group in the fourth quarter worth about $255,000. 86.99% of the stock is currently owned by institutional investors.

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.