HCI Group (NYSE:HCI) Given New $265.00 Price Target at Citizens Jmp

Key Points

• Citizens Jmp raised HCI Group’s price target to $265 from $255 and maintained a “market outperform” rating, implying 36.65% upside from the reported $193.93 share price.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average target price of $241.67.
• HCI Group exceeded quarterly earnings expectations, reporting $5.60 in EPS versus the $5.04 consensus estimate, while revenue of $242.48 million came in below the $247.43 million forecast.

HCI Group (NYSE:HCI - Get Free Report) had its target price increased by investment analysts at Citizens Jmp from $255.00 to $265.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the insurance provider's stock. Citizens Jmp's price objective indicates a potential upside of 36.65% from the stock's current price.

Several other brokerages also recently issued reports on HCI. Weiss Ratings raised shares of HCI Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Wall Street Zen cut shares of HCI Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Citigroup reiterated a "market outperform" rating on shares of HCI Group in a research note on Friday. Zacks Research lowered HCI Group from a "strong-buy" rating to a "hold" rating in a report on Friday, July 31st. Finally, Cantor Fitzgerald started coverage on HCI Group in a research report on Thursday, July 9th. They issued an "overweight" rating and a $225.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.67.

HCI Group Stock Performance

NYSE:HCI traded up $13.04 during mid-day trading on Friday, reaching $193.93. 98,983 shares of the stock were exchanged, compared to its average volume of 169,936. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. HCI Group has a 1 year low of $137.81 and a 1 year high of $210.50. The company has a 50 day simple moving average of $171.89 and a 200-day simple moving average of $163.15. The stock has a market capitalization of $2.48 billion, a P/E ratio of 8.50 and a beta of 1.04.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.56. The business had revenue of $242.48 million during the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a return on equity of 30.88% and a net margin of 32.64%. Analysts anticipate that HCI Group will post 18.29 earnings per share for the current fiscal year.

Institutional Trading of HCI Group

Several hedge funds have recently made changes to their positions in the company. Torren Management LLC purchased a new position in HCI Group during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC boosted its holdings in HCI Group by 519.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock worth $33,000 after purchasing an additional 184 shares during the period. Farther Finance Advisors LLC increased its position in HCI Group by 62.8% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider's stock worth $35,000 after purchasing an additional 71 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in shares of HCI Group during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 86.99% of the company's stock.

About HCI Group

HCI Group, Inc NYSE: HCI is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.

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