HCI Group (NYSE:HCI) Hits New 52-Week High - Should You Buy?

Key Points

• HCI Group's stock reached a new 52-week high of $183.93, closing at $182.65, with recent trading volume recorded at 15,017 shares.
• The company reported a strong quarterly earnings performance, with earnings per share of $5.18, exceeding analyst estimates, and is projected to post 6.78 EPS for the current fiscal year.
• Institutional investors hold a significant stake in HCI Group, owning approximately 86.99% of the company's stock, indicating strong backing from major financial players.

Shares of HCI Group, Inc. (NYSE:HCI - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $183.93 and last traded at $182.65, with a volume of 15017 shares trading hands. The stock had previously closed at $180.79.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HCI. Compass Point raised shares of HCI Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $148.00 to $205.00 in a research note on Friday, May 30th. Wall Street Zen downgraded HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $181.25.

HCI Group Stock Performance

The company's 50-day moving average price is $157.20 and its 200 day moving average price is $152.21. The stock has a market capitalization of $2.35 billion, a PE ratio of 16.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71.

HCI Group (NYSE:HCI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The insurance provider reported $5.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.71. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. The company had revenue of $221.92 million for the quarter, compared to analysts' expectations of $218.98 million. On average, equities research analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. HCI Group's dividend payout ratio is 14.18%.

Institutional Investors Weigh In On HCI Group

Several hedge funds have recently made changes to their positions in HCI. EverSource Wealth Advisors LLC grew its stake in HCI Group by 557.6% in the second 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. Global Assets Advisory LLC purchased a new position in HCI Group during the second quarter valued at $46,000. USA Financial Formulas boosted its holdings in shares of HCI Group by 250.0% during the 2nd quarter. USA Financial Formulas now owns 518 shares of the insurance provider's stock valued at $79,000 after buying an additional 370 shares in the last quarter. GAMMA Investing LLC grew its position in shares of HCI Group by 16.6% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock worth $89,000 after buying an additional 85 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of HCI Group by 825.7% in the 1st quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider's stock worth $97,000 after buying an additional 578 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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.