Oppenheimer Reiterates “Outperform” Rating for HCI Group (NYSE:HCI)

HCI Group (NYSE:HCI)‘s stock had its “outperform” rating reissued by research analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports. They currently have a $140.00 price objective on the insurance provider’s stock. Oppenheimer’s target price would indicate a potential upside of 20.71% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Compass Point boosted their target price on HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Truist Financial boosted 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. Finally, William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.33.

HCI Group Stock Up 0.4 %

Shares of NYSE HCI opened at $115.98 on Wednesday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.34 and a beta of 1.12. 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 business has a 50-day moving average of $100.65 and a two-hundred day moving average of $82.17. HCI Group has a 1 year low of $48.08 and a 1 year high of $121.57.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.41 by $1.81. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. The business had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. During the same period in the previous year, the business earned $0.06 EPS. On average, analysts forecast that HCI Group will post 10.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HCI Group news, CFO James Mark Harmsworth sold 20,000 shares of the business’s 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 transaction, the chief financial officer now owns 15,420 shares in the company, valued at approximately $1,805,990.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HCI Group news, CFO James Mark Harmsworth sold 20,000 shares of the business’s 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 transaction, the chief financial officer now owns 15,420 shares in the company, valued at approximately $1,805,990.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew L. Graham sold 800 shares of the business’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 value of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares in the company, valued at approximately $6,709,284.60. The disclosure for this sale can be found here. 25.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HCI Group

Several institutional investors have recently modified their holdings of HCI. Wasatch Advisors LP purchased a new stake in shares of HCI Group during the 1st quarter worth approximately $8,558,000. Bank of America Corp DE boosted its stake in shares of HCI Group by 859.9% during the 1st quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider’s stock worth $5,983,000 after acquiring an additional 99,992 shares in the last quarter. Millennium Management LLC boosted its stake in shares of HCI Group by 160.2% during the 2nd quarter. Millennium Management LLC now owns 139,280 shares of the insurance provider’s stock worth $9,438,000 after acquiring an additional 85,759 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of HCI Group during the 1st quarter worth approximately $5,815,000. Finally, Wellington Management Group LLP purchased a new stake in HCI Group in the 4th quarter valued at approximately $5,633,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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.