Cantor Fitzgerald Initiates Coverage on HCI Group (NYSE:HCI)

Analysts at Cantor Fitzgerald assumed coverage on shares of HCI Group (NYSE:HCI) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $225.00 price target on the insurance provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 23.18% from the company’s previous close.

Several other research firms also recently commented on HCI. Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings raised HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, HCI Group presently has a consensus rating of “Buy” and an average price target of $238.33.

HCI Group Price Performance

HCI opened at $182.66 on Thursday. The company has a fifty day simple moving average of $163.02 and a 200 day simple moving average of $164.01. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. HCI Group has a twelve month low of $136.37 and a twelve month high of $210.50. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 8.02 and a beta of 1.03.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The business had revenue of $242.88 million during the quarter, compared to analyst estimates of $245.09 million. Equities research analysts expect that HCI Group will post 18.07 EPS for the current fiscal year.

Institutional Trading of HCI Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in HCI Group by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock valued at $160,947,000 after acquiring an additional 32,167 shares during the last quarter. Assetmark Inc. raised its holdings in HCI Group by 10.4% during the 4th quarter. Assetmark Inc. now owns 35,806 shares of the insurance provider’s stock worth $6,864,000 after purchasing an additional 3,380 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in HCI Group by 642.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 67,460 shares of the insurance provider’s stock worth $12,931,000 after purchasing an additional 58,377 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in HCI Group during the 1st quarter valued at about $2,302,000. Finally, Intech Investment Management LLC lifted its position in HCI Group by 934.5% during the 4th quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider’s stock valued at $8,484,000 after purchasing an additional 39,979 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.