HCI Group (NYSE:HCI) Sees Large Volume Increase After Analyst Upgrade

Shares of HCI Group, Inc. (NYSE:HCI) saw unusually-strong trading volume on Thursday after JMP Securities raised their price target on the stock from $120.00 to $135.00. JMP Securities currently has a market outperform rating on the stock. Approximately 262,443 shares were traded during trading, an increase of 98% from the previous session’s volume of 132,545 shares.The stock last traded at $106.57 and had previously closed at $115.26.

Several other analysts have also recently commented on HCI. Oppenheimer reiterated an “outperform” rating and set a $140.00 target price on shares of HCI Group in a research report on Friday, April 5th. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Truist Financial raised their target price on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Finally, Compass Point boosted their target price on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.75.

Insider Activity

In related news, CFO James Mark Harmsworth sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the sale, the chief financial officer now owns 15,420 shares of the company’s stock, valued at approximately $1,805,990.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO James Mark Harmsworth sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the completion of the sale, the chief financial officer now directly owns 15,420 shares of the company’s stock, valued at approximately $1,805,990.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the sale, the general counsel now owns 57,630 shares in the company, valued at $6,709,284.60. The disclosure for this sale can be found here. Insiders sold 113,102 shares of company stock valued at $13,198,303 in the last quarter. Company insiders own 25.25% of the company’s stock.

Institutional Investors Weigh In On HCI Group

Several institutional investors have recently added to or reduced their stakes in HCI. Wasatch Advisors LP raised its stake in shares of HCI Group by 5.1% in the 4th quarter. Wasatch Advisors LP now owns 186,053 shares of the insurance provider’s stock valued at $16,261,000 after purchasing an additional 8,992 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of HCI Group by 344.4% during the first quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider’s stock worth $8,360,000 after buying an additional 55,817 shares in the last quarter. Wellington Management Group LLP acquired a new stake in HCI Group in the 4th quarter valued at approximately $5,633,000. Principal Financial Group Inc. lifted its stake in HCI Group by 45.0% in the 1st quarter. Principal Financial Group Inc. now owns 45,387 shares of the insurance provider’s stock valued at $5,269,000 after acquiring an additional 14,086 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in HCI Group by 304.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 32,027 shares of the insurance provider’s stock valued at $2,799,000 after acquiring an additional 24,117 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

HCI Group Trading Down 8.8 %

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 13.90 and a beta of 1.15. The business has a 50-day simple moving average of $111.92 and a two-hundred day simple moving average of $94.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62.

HCI Group (NYSE:HCI) last announced its earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same quarter in the prior year, the company posted $0.06 earnings per share. As a group, research analysts forecast that HCI Group, Inc. will post 10.33 EPS for the current year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be paid a $0.40 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. HCI Group’s dividend payout ratio is 21.16%.

HCI Group Company Profile

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.