HCI Group (NYSE:HCI) Shares Up 13.8% After Strong Earnings

Shares of HCI Group, Inc. (NYSE:HCI) rose 13.8% on Friday following a stronger than expected earnings report. The stock traded as high as $172.14 and last traded at $176.30. Approximately 9,915 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 142,532 shares. The stock had previously closed at $154.87.

The insurance provider reported $5.35 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.86. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. The company had revenue of $216.43 million for the quarter, compared to analysts’ expectations of $214.89 million.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. HCI Group’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Ratings Changes

Separately, JMP Securities lifted their price target on shares of HCI Group from $165.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.25.

Institutional Trading of HCI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCI. Barclays PLC grew its holdings in HCI Group by 77.3% during the 3rd quarter. Barclays PLC now owns 15,501 shares of the insurance provider’s stock valued at $1,659,000 after buying an additional 6,756 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in HCI Group during the fourth quarter valued at $1,358,000. Invesco Ltd. lifted its stake in HCI Group by 93.0% in the 4th quarter. Invesco Ltd. now owns 113,710 shares of the insurance provider’s stock worth $13,251,000 after purchasing an additional 54,803 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of HCI Group by 16.3% during the 4th quarter. American Century Companies Inc. now owns 168,466 shares of the insurance provider’s stock valued at $19,631,000 after purchasing an additional 23,610 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in shares of HCI Group by 9.7% during the fourth quarter. HighTower Advisors LLC now owns 6,345 shares of the insurance provider’s stock valued at $739,000 after purchasing an additional 559 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Stock Up 8.0 %

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 $1.80 billion, a P/E ratio of 13.98 and a beta of 1.23. The company has a fifty day moving average price of $143.19 and a 200-day moving average price of $126.52.

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.