HCI Group (NYSE:HCI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of HCI Group (NYSE:HCIGet Rating) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The firm currently has $76.00 price target on the insurance provider’s stock.

According to Zacks, “HCI Group, Inc. is a holding company that conducts its business activities through its subsidiaries. It is engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. The company, through its largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides property and casualty insurance. Its insurance product includes property and casualty homeowners insurance, condominium-owners’ insurance and tenants insurance to individuals owning property. HCI Group, Inc., formerly known as Homeowners Choice, Inc., is headquartered in Tampa, Florida. “

A number of other equities analysts have also weighed in on the stock. StockNews.com upgraded shares of HCI Group from a sell rating to a hold rating in a research report on Friday, March 25th. Truist Financial dropped their price target on HCI Group from $110.00 to $95.00 in a research report on Wednesday, January 19th.

HCI stock opened at $65.62 on Tuesday. HCI Group has a 52 week low of $57.51 and a 52 week high of $139.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $66.21 and a 200-day simple moving average of $91.61. The stock has a market capitalization of $677.46 million, a P/E ratio of 234.37 and a beta of 0.76.

HCI Group (NYSE:HCIGet Rating) last issued its quarterly earnings results on Tuesday, March 8th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.36. HCI Group had a return on equity of 0.60% and a net margin of 0.46%. The firm had revenue of $112.32 million for the quarter, compared to analyst estimates of $106.69 million. During the same period in the previous year, the company posted $0.22 earnings per share. On average, analysts expect that HCI Group will post 0.6 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Friday, February 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, February 17th. HCI Group’s payout ratio is currently 571.45%.

In other news, insider Andrew L. Graham sold 784 shares of the company’s stock in a transaction on Friday, January 21st. The stock was sold at an average price of $68.89, for a total value of $54,009.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Politis acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The shares were acquired at an average cost of $68.38 per share, with a total value of $136,760.00. The disclosure for this purchase can be found here. Insiders own 24.71% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC lifted its stake in HCI Group by 690.7% during the third quarter. Voloridge Investment Management LLC now owns 19,055 shares of the insurance provider’s stock worth $2,111,000 after purchasing an additional 16,645 shares in the last quarter. Balyasny Asset Management LLC boosted its holdings in HCI Group by 206.2% during the 3rd quarter. Balyasny Asset Management LLC now owns 13,994 shares of the insurance provider’s stock valued at $1,550,000 after acquiring an additional 9,424 shares during the period. State of Alaska Department of Revenue grew its position in HCI Group by 17.7% in the 4th quarter. State of Alaska Department of Revenue now owns 5,664 shares of the insurance provider’s stock valued at $473,000 after acquiring an additional 850 shares in the last quarter. Centiva Capital LP purchased a new stake in HCI Group during the third quarter worth about $278,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of HCI Group by 68.2% during the third quarter. Cubist Systematic Strategies LLC now owns 3,210 shares of the insurance provider’s stock worth $356,000 after purchasing an additional 1,301 shares in the last quarter. 58.89% of the stock is owned by hedge funds and other institutional investors.

About HCI Group (Get Rating)

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, 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.

Further Reading

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