HCI Group (NYSE:HCI) Reaches New 52-Week High - What's Next?

Key Points

• HCI Group reached a new 52-week high price of $180.47, closing at $175.32 with significant trading volume of 61,992 shares.
• Analysts have generally rated HCI Group as a buy, with price target upgrades from $148.00 to as high as $225.00.
• The company reported a strong quarterly earnings performance, with $5.18 EPS exceeding expectations, and a 0.9% dividend yield announced for its upcoming payout.

HCI Group, Inc. (NYSE:HCI - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $180.47 and last traded at $175.32, with a volume of 61992 shares trading hands. The stock had previously closed at $170.56.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HCI shares. Compass Point raised HCI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $148.00 to $205.00 in a research note on Friday, May 30th. JMP Securities lifted their price objective on HCI Group from $210.00 to $225.00 and gave the company a "market outperform" rating in a research note on Monday, May 19th. Finally, Wall Street Zen lowered HCI Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $181.25.

HCI Group Price Performance

The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $150.18 and a 200 day moving average price of $148.74.

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

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group's dividend payout ratio (DPR) is currently 14.18%.

Hedge Funds Weigh In On HCI Group

A number of institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in HCI Group by 19.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,215 shares of the insurance provider's stock valued at $375,000 after acquiring an additional 531 shares in the last quarter. Northern Trust Corp grew its stake in HCI Group by 9.1% during the 4th quarter. Northern Trust Corp now owns 88,230 shares of the insurance provider's stock valued at $10,281,000 after acquiring an additional 7,349 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in HCI Group by 33.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,400 shares of the insurance provider's stock valued at $513,000 after acquiring an additional 1,100 shares in the last quarter. BNP Paribas Financial Markets grew its stake in HCI Group by 27.2% during the 4th quarter. BNP Paribas Financial Markets now owns 27,361 shares of the insurance provider's stock valued at $3,188,000 after acquiring an additional 5,843 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of HCI Group by 208.3% during the 4th quarter. Bank of America Corp DE now owns 36,863 shares of the insurance provider's stock valued at $4,296,000 after buying an additional 24,907 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

About HCI Group

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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