HCI Group (NYSE:HCI) Stock Price Up 4.6% – Here’s What Happened

HCI Group, Inc. (NYSE:HCI)’s stock price rose 4.6% on Friday . The company traded as high as $156.49 and last traded at $157.16. Approximately 62,385 shares traded hands during trading, a decline of 63% from the average daily volume of 167,326 shares. The stock had previously closed at $150.23.

Analyst Ratings Changes

Several brokerages recently weighed in on HCI. Zacks Research downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Wall Street Zen downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.00.

HCI Group Stock Up 4.9%

The firm has a 50 day moving average of $154.42 and a 200 day moving average of $165.12. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 6.92 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Wednesday, May 6th. The insurance provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The firm had revenue of $242.88 million during the quarter, compared to analysts’ expectations of $245.09 million. As a group, sell-side analysts predict that HCI Group, Inc. will post 18.07 earnings per share for the current year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, May 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. HCI Group’s payout ratio is presently 7.02%.

Institutional Trading of HCI Group

A number of hedge funds have recently bought and sold shares of HCI. Envestnet Asset Management Inc. raised its stake in shares of HCI Group by 175.0% in the third quarter. Envestnet Asset Management Inc. now owns 13,985 shares of the insurance provider’s stock valued at $2,684,000 after buying an additional 8,899 shares during the period. Quantbot Technologies LP bought a new stake in shares of HCI Group in the third quarter valued at $1,340,000. American Century Companies Inc. raised its stake in shares of HCI Group by 6.7% in the third quarter. American Century Companies Inc. now owns 556,670 shares of the insurance provider’s stock valued at $106,842,000 after buying an additional 35,029 shares during the period. Principal Financial Group Inc. raised its stake in shares of HCI Group by 28.4% in the third quarter. Principal Financial Group Inc. now owns 73,685 shares of the insurance provider’s stock valued at $14,142,000 after buying an additional 16,287 shares during the period. Finally, Assetmark Inc. raised its stake in shares of HCI Group by 10.4% in the fourth quarter. Assetmark Inc. now owns 35,806 shares of the insurance provider’s stock valued at $6,864,000 after buying an additional 3,380 shares during the period. 86.99% of the stock is currently owned by institutional investors.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.