Truist Financial Issues Positive Forecast for HCI Group (NYSE:HCI) Stock Price

HCI Group (NYSE:HCI) had its price objective hoisted by Truist Financial from $190.00 to $235.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other brokerages have also recently issued reports on HCI. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HCI Group in a report on Wednesday, October 8th. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered HCI Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat, HCI Group currently has a consensus rating of “Buy” and an average price target of $221.67.

HCI Group Stock Down 8.0%

Shares of NYSE:HCI traded down $15.69 during trading on Friday, hitting $179.32. 344,396 shares of the company were exchanged, compared to its average volume of 145,515. HCI Group has a fifty-two week low of $105.00 and a fifty-two week high of $210.50. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 15.90 and a beta of 1.16. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $188.79 and a two-hundred day moving average price of $165.00.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $2.46. The business had revenue of $216.35 million for the quarter, compared to the consensus estimate of $223.53 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. As a group, research analysts anticipate that HCI Group will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 21st. HCI Group’s payout ratio is currently 14.18%.

Institutional Trading of HCI Group

Several hedge funds have recently added to or reduced their stakes in HCI. Quent Capital LLC acquired a new position in HCI Group in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC grew its stake in shares of HCI Group by 557.6% in the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 184 shares in the last quarter. Westside Investment Management Inc. increased its position in HCI Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 252 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 126 shares during the period. Global Assets Advisory LLC acquired a new stake in HCI Group in the 2nd quarter worth about $46,000. Finally, USA Financial Formulas boosted its holdings in HCI Group by 250.0% in the 2nd quarter. USA Financial Formulas now owns 518 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 370 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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.