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

HCI Group (NYSE:HCI – Free Report) had its target price boosted by Truist Financial from $235.00 to $245.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

HCI has been the subject of a number of other research reports. Citizens Jmp boosted their target price on HCI Group from $265.00 to $280.00 and gave the company a “market outperform” rating in a research note on Thursday. Weiss Ratings lowered HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald assumed coverage on shares of HCI Group in a research report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price target for the company. Citigroup reissued a “market outperform” rating on shares of HCI Group in a report on Thursday. Finally, Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $250.00.

Read Our Latest Report on HCI Group

HCI Group Stock Down 5.5%

Shares of NYSE:HCI opened at $191.36 on Thursday. The firm has a fifty day moving average of $190.23 and a 200 day moving average of $171.36. HCI Group has a 52-week low of $144.75 and a 52-week high of $208.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $2.38 billion, a PE ratio of 7.73 and a beta of 0.96.

HCI Group (NYSE:HCI – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $6.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.96 by $1.49. The firm had revenue of $244.91 million during the quarter, compared to analyst estimates of $247.75 million. HCI Group had a return on equity of 28.49% and a net margin of 33.48%. As a group, research analysts anticipate that HCI Group will post 21.04 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 20th. This represents a $1.60 annualized dividend and a yield of 0.8%. HCI Group’s payout ratio is presently 6.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its position in HCI Group by 5.7% in the third quarter. Fifth Third Bancorp now owns 4,134 shares of the insurance provider’s stock valued at $719,000 after buying an additional 223 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of HCI Group by 51.5% in the third quarter. Maryland State Retirement & Pension System now owns 2,339 shares of the insurance provider’s stock worth $407,000 after acquiring an additional 795 shares during the period. Gen Wealth Partners Inc purchased a new position in HCI Group during the third quarter worth approximately $34,000. Allspring Global Investments Holdings LLC lifted its position in shares of HCI Group by 60.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,086 shares of the insurance provider’s stock valued at $42,461,000 after buying an additional 88,553 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in shares of HCI Group by 3.8% in the third quarter. Alps Advisors Inc. now owns 3,112 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 114 shares during the period. 86.99% of the stock is currently owned by institutional investors.

HCI Group News Roundup

Here are the key news stories impacting HCI Group this week:

  • Positive Sentiment: Analysts raised their price targets. Truist lifted its target to $245 from $235 and kept a Buy rating; Citizens JMP raised its target to $280 from $265 and maintained Market Outperform. Truist price target update Citizens JMP price target update
  • Positive Sentiment: Quarterly profit topped estimates and grew year over year. HCI earned $6.45 per share, ahead of analysts’ roughly $5 estimate. Net income increased to $86 million from $68 million a year earlier, while gross written premiums rose 12%; the gross loss ratio was 20.7%. HCI third-quarter results
  • Negative Sentiment: Revenue missed analyst expectations. Quarterly revenue was $244.91 million versus a consensus estimate of $247.75 million, tempering the otherwise strong earnings report. HCI Q3 revenue report
  • Negative Sentiment: HCI cited an expected $15 million net loss from Hurricane Isaias in the fourth quarter. That anticipated claims impact could offset some of the positive earnings momentum. HCI Isaias loss outlook

About HCI Group

(Get Free Report)

HCI Group, Inc is a Florida-based holding company focused primarily on property and casualty insurance. Through its insurance subsidiaries, the company provides residential property insurance products, including homeowners, condominium, renters and dwelling coverage, designed to protect policyholders against risks such as wind, fire, theft and other covered losses.

HCI’s insurance operations have historically been concentrated in Florida, one of the largest and most challenging residential property-insurance markets in the United States.

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