HCI Group (NYSE:HCI) Hits New 1-Year High Following Earnings Beat

HCI Group, Inc. (NYSE:HCI)’s share price reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $129.48 and last traded at $129.07, with a volume of 8721 shares changing hands. The stock had previously closed at $123.96.

The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.75) by $3.06. The company had revenue of $161.88 million during the quarter, compared to the consensus estimate of $175.11 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, February 21st. HCI Group’s dividend payout ratio is currently 13.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HCI shares. Oppenheimer raised their price objective on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial restated a “buy” rating and set a $145.00 price target on shares of HCI Group in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Hedge Funds Weigh In On HCI Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its stake in HCI Group by 10.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 4,100 shares of the insurance provider’s stock valued at $439,000 after buying an additional 400 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of HCI Group by 11.8% during the third quarter. State of Alaska Department of Revenue now owns 4,815 shares of the insurance provider’s stock worth $515,000 after purchasing an additional 510 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in HCI Group by 49.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after purchasing an additional 300 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of HCI Group by 1.5% during the third quarter. New York State Teachers Retirement System now owns 10,393 shares of the insurance provider’s stock worth $1,113,000 after buying an additional 155 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of HCI Group by 10.3% in the third quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider’s stock worth $258,000 after buying an additional 225 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Stock Up 6.2 %

The business’s 50-day moving average is $119.38 and its two-hundred day moving average is $112.21. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.00 and a beta of 1.12.

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.