HCI Group (NYSE:HCI) Shares Down 8.6% – Time to Sell?

HCI Group, Inc. (NYSE:HCI)’s share price traded down 8.6% during trading on Friday . The stock traded as low as $177.50 and last traded at $178.2250. 216,900 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 144,777 shares. The stock had previously closed at $195.01.

Analyst Upgrades and Downgrades

HCI has been the subject of a number of recent analyst reports. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Truist Financial increased their target price on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of HCI Group in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of HCI Group from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $203.75.

HCI Group Price Performance

The company’s 50-day moving average price is $188.53 and its 200-day moving average price is $164.73. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 15.90 and a beta of 1.16.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. The company had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. On average, equities research analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is 14.18%.

Institutional Investors Weigh In On HCI Group

A number of hedge funds have recently bought and sold shares of HCI. Principal Financial Group Inc. increased its holdings in shares of HCI Group by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider’s stock valued at $9,202,000 after acquiring an additional 1,332 shares during the period. Envestnet Asset Management Inc. increased its stake in HCI Group by 22.2% in the first quarter. Envestnet Asset Management Inc. now owns 8,886 shares of the insurance provider’s stock valued at $1,326,000 after purchasing an additional 1,612 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of HCI Group in the first quarter valued at about $1,432,000. Cerity Partners LLC acquired a new stake in shares of HCI Group during the first quarter worth about $274,000. Finally, Bridgewater Advisors Inc. acquired a new stake in shares of HCI Group during the first quarter worth about $361,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.