JMP Securities Reaffirms “Market Outperform” Rating for HCI Group (NYSE:HCI)

JMP Securities restated their market outperform rating on shares of HCI Group (NYSE:HCI) in a research report report published on Monday morning, Benzinga reports. JMP Securities currently has a $120.00 price objective on the insurance provider’s stock.

A number of other research firms also recently commented on HCI. Truist Financial raised their target price on HCI Group from $96.00 to $112.00 and gave the company a buy rating in a report on Friday, January 12th. Oppenheimer reaffirmed an outperform rating and set a $140.00 price target on shares of HCI Group in a research note on Friday, April 5th. William Blair raised HCI Group from a market perform rating to an outperform rating in a research note on Friday, March 8th. Finally, Compass Point lifted their price target on HCI Group from $90.00 to $124.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, HCI Group has an average rating of Moderate Buy and a consensus price target of $124.00.

HCI Group Price Performance

Shares of NYSE HCI opened at $110.22 on Monday. HCI Group has a 1-year low of $48.08 and a 1-year high of $121.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a fifty day moving average price of $106.02 and a 200 day moving average price of $87.75. The company has a market cap of $1.10 billion, a PE ratio of 14.58 and a beta of 1.14.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. The company had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. During the same quarter last year, the company earned $0.06 earnings per share. Sell-side analysts forecast that HCI Group will post 10.33 EPS for the current year.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, February 15th. HCI Group’s dividend payout ratio is presently 21.16%.

Insider Buying and Selling at HCI Group

In other HCI Group news, Director Sanjay Madhu sold 3,294 shares of HCI Group stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total value of $391,063.68. Following the completion of the sale, the director now owns 71,706 shares in the company, valued at approximately $8,512,936.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Paresh Patel purchased 500 shares of HCI Group stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average cost of $111.00 per share, with a total value of $55,500.00. Following the transaction, the chief executive officer now owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sanjay Madhu sold 3,294 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total value of $391,063.68. Following the transaction, the director now directly owns 71,706 shares in the company, valued at $8,512,936.32. The disclosure for this sale can be found here. Insiders sold 113,102 shares of company stock worth $13,198,303 in the last 90 days. 25.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On HCI Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of HCI Group by 80.7% in the 1st quarter. FMR LLC now owns 468 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 209 shares in the last quarter. Legal & General Group Plc raised its position in shares of HCI Group by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 19,503 shares of the insurance provider’s stock valued at $1,322,000 after purchasing an additional 243 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of HCI Group by 11.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 245 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of HCI Group by 3.0% in the 1st quarter. Yousif Capital Management LLC now owns 8,512 shares of the insurance provider’s stock valued at $580,000 after purchasing an additional 245 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of HCI Group by 112.7% in the 1st quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 257 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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.