HCI Group (NYSE:HCI) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

HCI Group, Inc. (NYSE:HCI)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $190.39 and traded as high as $191.88. HCI Group shares last traded at $190.79, with a volume of 218,553 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HCI. Weiss Ratings restated a “buy (b-)” rating on shares of HCI Group in a report on Wednesday, November 4th. Truist Financial lifted their target price on shares of HCI Group from $235.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Citigroup reissued a “market outperform” rating on shares of HCI Group in a research report on Thursday, November 5th. Finally, Citizens Jmp increased their target price on HCI Group from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $250.00.

HCI Group Trading Up 0.5%

The stock’s fifty day moving average price is $190.39 and its 200 day moving average price is $171.96. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.37 billion, a PE ratio of 7.71 and a beta of 0.96.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Wednesday, November 4th. The insurance provider reported $6.45 earnings per share for the quarter, topping analysts’ consensus estimates of $4.96 by $1.49. HCI Group had a net margin of 33.48% and a return on equity of 28.09%. The company had revenue of $244.91 million during the quarter, compared to analyst estimates of $247.75 million. On average, sell-side analysts forecast that HCI Group, Inc. will post 21.96 EPS for the current year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be given a $0.40 dividend. The ex-dividend date is Friday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. HCI Group’s dividend payout ratio is presently 6.46%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HCI. BlackRock Inc. purchased a new position in shares of HCI Group in the second quarter valued at about $323,098,000. Freestone Grove Partners LP purchased a new stake in shares of HCI Group during the second quarter worth about $30,766,000. Arrowstreet Capital Limited Partnership grew its position in shares of HCI Group by 2,944.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock worth $18,067,000 after purchasing an additional 113,019 shares in the last quarter. Bank of America Corp DE bought a new stake in HCI Group during the 2nd quarter valued at approximately $17,422,000. Finally, Allspring Global Investments Holdings LLC raised its stake in HCI Group by 60.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,086 shares of the insurance provider’s stock valued at $42,461,000 after purchasing an additional 88,553 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About HCI Group

HCI Group, Inc. is a Florida-based holding company whose primary business is residential property and casualty insurance. Through its insurance subsidiaries, including Homeowners Choice Property & Casualty Insurance Company and TypTap Insurance Company, it offers coverage for homeowners and other residential property owners. The company’s insurance business is centered in Florida, and TypTap has supported its expansion into additional U.S. markets. HCI also has real estate operations and develops technology for use in the insurance industry.