HCI Group (NYSE:HCI) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Technical break: HCI Group shares crossed below their 200-day moving average, trading as low as $153.23 versus the 200-day MA of $174.82 and last quoted around $155.20 (50-day MA $159.51).
• Quarterly beat: HCI reported EPS of $7.25 versus consensus $4.87 and revenue of $246.24M versus $232.36M, with a net margin of 33.19% and return on equity of 36.34%.
• Positive analyst and ownership backdrop: The stock carries an average analyst rating of "Buy" (1 Strong Buy, 5 Buy, 1 Hold) with an average target of $231.67; the company has a $2.02B market cap, a PE of 6.84, pays a $0.40 quarterly dividend (1.0% yield), and is 86.99% institutionally owned.

HCI Group, Inc. (NYSE:HCI - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $174.82 and traded as low as $153.23. HCI Group shares last traded at $155.1980, with a volume of 209,407 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HCI shares. Weiss Ratings restated a "buy (b)" rating on shares of HCI Group in a report on Monday, December 29th. Citigroup restated a "market outperform" rating on shares of HCI Group in a report on Friday, January 16th. Finally, Zacks Research upgraded HCI Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $231.67.

HCI Group Stock Performance

The company has a market capitalization of $2.02 billion, a PE ratio of 6.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average price of $159.51 and a 200 day moving average price of $174.82.

HCI Group (NYSE:HCI - Get Free Report) last released its earnings results on Wednesday, February 25th. The insurance provider reported $7.25 EPS for the quarter, beating the consensus estimate of $4.87 by $2.38. The company had revenue of $246.24 million during the quarter, compared to analysts' expectations of $232.36 million. HCI Group had a return on equity of 36.34% and a net margin of 33.19%. Equities analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, February 20th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. HCI Group's dividend payout ratio is currently 7.05%.

Institutional Investors Weigh In On HCI Group

Several institutional investors and hedge funds have recently made changes to their positions in HCI. Royal Bank of Canada raised its position in shares of HCI Group by 5.5% during the 1st quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider's stock valued at $2,093,000 after acquiring an additional 727 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of HCI Group by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider's stock valued at $736,000 after acquiring an additional 228 shares in the last quarter. Millennium Management LLC raised its position in shares of HCI Group by 78.7% during the 1st quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock valued at $15,278,000 after acquiring an additional 45,097 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of HCI Group by 115.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider's stock valued at $213,000 after acquiring an additional 751 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 184 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Company Profile

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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