HCI Group (NYSE:HCI) Stock Rating Reaffirmed by JMP Securities

HCI Group (NYSE:HCI)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $120.00 price objective on the insurance provider’s stock. JMP Securities’ target price points to a potential upside of 7.21% from the stock’s current price.

A number of other research analysts have also weighed in on the company. William Blair raised HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th. Compass Point boosted their target price on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Truist Financial lifted their price objective on HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, HCI Group has an average rating of “Moderate Buy” and an average price target of $124.00.

HCI Group Price Performance

Shares of HCI opened at $111.93 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 firm has a 50-day simple moving average of $106.42 and a two-hundred day simple moving average of $88.15. The stock has a market cap of $1.12 billion, a PE ratio of 14.81 and a beta of 1.14.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $0.06 EPS. As a group, analysts forecast that HCI Group will post 10.33 EPS for the current year.

Insider Activity at HCI Group

In related news, CEO Paresh Patel bought 500 shares of HCI Group stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $111.00 per share, with a total value of $55,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 349,500 shares in the company, valued at approximately $38,794,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Paresh Patel acquired 500 shares of HCI Group stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $111.00 per share, with a total value of $55,500.00. Following the completion of the transaction, the chief executive officer now owns 349,500 shares in the company, valued at $38,794,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Mark Harmsworth sold 20,000 shares of the 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 transaction, the chief financial officer now owns 15,420 shares in the company, valued at approximately $1,805,990.40. The disclosure for this sale can be found here. Insiders have sold a total of 113,102 shares of company stock worth $13,198,303 in the last ninety days. 25.25% of the stock is owned by insiders.

Hedge Funds Weigh In On HCI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new stake in shares of HCI Group during the 1st quarter worth about $8,558,000. Bank of America Corp DE increased its stake in HCI Group by 859.9% in the first quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider’s stock valued at $5,983,000 after purchasing an additional 99,992 shares in the last quarter. Millennium Management LLC lifted its holdings in HCI Group by 160.2% during the second 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 bought a new stake in shares of HCI Group in the first quarter worth about $5,815,000. Finally, Wellington Management Group LLP acquired a new position in shares of HCI Group in the 4th quarter valued at approximately $5,633,000. 86.99% of the stock is currently owned by institutional investors.

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.