HCI Group (NYSE:HCI) Reaches New 1-Year High - Here's Why

Key Points

• HCI Group, Inc. reached a new 52-week high of $186.99 during trading, closing at $185.48 on Friday, with strong trading volume of 51,767 shares.
• Analysts have mixed ratings for HCI Group, with Wall Street Zen downgrading it to a "buy" while Compass Point raised its price target to $205.00, reflecting a consensus target price of $181.25.
• The company recently announced a quarterly dividend of $0.40 per share, representing an annual yield of 0.9%, with a dividend payout ratio of 14.18%.

HCI Group, Inc. (NYSE:HCI - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $186.99 and last traded at $185.48, with a volume of 51767 shares changing hands. The stock had previously closed at $180.43.

Analysts Set New Price Targets

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

HCI Group Trading Up 3.2%

The business's 50 day simple moving average is $160.35 and its two-hundred day simple moving average is $153.38. The stock has a market cap of $2.41 billion, a P/E ratio of 16.43 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02.

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 for the quarter, beating the consensus estimate of $4.47 by $0.71. HCI Group had a return on equity of 25.84% and a net margin of 18.58%.The company had revenue of $221.92 million for the quarter, compared to the consensus estimate of $218.98 million. As a group, analysts expect that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 15th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 15th. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group's dividend payout ratio (DPR) is currently 14.18%.

Hedge Funds Weigh In On HCI Group

Several large investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in HCI Group by 208.3% in the fourth quarter. Bank of America Corp DE now owns 36,863 shares of the insurance provider's stock valued at $4,296,000 after purchasing an additional 24,907 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of HCI Group by 5.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,702 shares of the insurance provider's stock worth $548,000 after acquiring an additional 247 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of HCI Group in the fourth quarter worth approximately $291,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in HCI Group during the 4th quarter valued at approximately $3,526,000. Finally, Wellington Management Group LLP raised its holdings in HCI Group by 5.5% during the 4th quarter. Wellington Management Group LLP now owns 154,839 shares of the insurance provider's stock worth $18,043,000 after purchasing an additional 8,101 shares during the last quarter. 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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