HCI Group (NYSE:HCI) Rating Increased to Strong-Buy at Zacks Research

Key Points

• HCI Group was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, reflecting increased investor confidence.
• The company reported quarterly earnings of $5.18 per share, surpassing expectations and indicating strong financial health with a net margin of 18.58%.
• Institutional investors own approximately 86.99% of HCI Group's stock, highlighting strong backing from significant investors.

HCI Group (NYSE:HCI - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of HCI Group in a research report on Wednesday. Wall Street Zen cut shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $181.25.

HCI Group Stock Performance

Shares of NYSE:HCI opened at $186.73 on Wednesday. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 16.55 and a beta of 1.17. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02. HCI Group has a 12 month low of $101.80 and a 12 month high of $199.00. The firm's 50-day moving average is $170.47 and its 200 day moving average is $157.05.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $221.92 million during the quarter, compared to analysts' expectations of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. Research analysts predict that HCI Group will post 6.78 EPS for the current year.

Institutional Investors Weigh In On HCI Group

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of HCI Group by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 919 shares of the insurance provider's stock worth $176,000 after purchasing an additional 177 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of HCI Group by 14.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 11,660 shares of the insurance provider's stock worth $1,775,000 after purchasing an additional 1,508 shares during the period. Caldwell Trust Co purchased a new stake in shares of HCI Group in the 2nd quarter worth approximately $83,000. Squarepoint Ops LLC lifted its position in shares of HCI Group by 64.6% in the 2nd quarter. Squarepoint Ops LLC now owns 7,426 shares of the insurance provider's stock worth $1,130,000 after purchasing an additional 2,914 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of HCI Group by 9.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,844 shares of the insurance provider's stock worth $1,042,000 after purchasing an additional 607 shares during the period. Hedge funds and other institutional investors 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.

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