HCI Group (NYSE:HCI) Trading Up 8.5% - Here's What Happened

Key Points

• HCI Group's stock price rose 8.5% to $152.28 on Monday, with trading volume increasing by 31% compared to its average daily volume.
• Brokerages have raised their price targets for HCI Group, with JMP Securities increasing it from $210 to $225 and Compass Point from $148 to $205, reflecting a positive outlook for the stock.
• The company reported earnings of $5.18 per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.40 per share, representing a 1.0% yield.

HCI Group, Inc. (NYSE:HCI - Get Free Report)'s share price was up 8.5% on Monday . The stock traded as high as $152.05 and last traded at $152.28. Approximately 175,945 shares traded hands during trading, an increase of 31% from the average daily volume of 134,101 shares. The stock had previously closed at $140.33.

Analyst Upgrades and Downgrades

HCI has been the topic of several research reports. Compass Point raised shares of HCI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $148.00 to $205.00 in a research report on Friday, May 30th. JMP Securities lifted their price objective on shares of HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of HCI Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, HCI Group presently has an average rating of "Buy" and a consensus price target of $181.25.

HCI Group Stock Down 1.2%

The stock's fifty day moving average is $146.45 and its 200 day moving average is $143.80. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.02 billion, a P/E ratio of 13.81 and a beta of 1.24.

HCI Group (NYSE:HCI - Get Free Report) last posted 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. 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 during the quarter, compared to analyst estimates of $218.98 million. Research analysts predict that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Announces Dividend

The firm 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. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. HCI Group's dividend payout ratio (DPR) is presently 14.18%.

Institutional Trading of HCI Group

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of HCI Group by 168.8% during the 1st quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider's stock valued at $67,569,000 after acquiring an additional 284,315 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of HCI Group by 288.9% during the 4th quarter. Wasatch Advisors LP now owns 294,349 shares of the insurance provider's stock valued at $34,300,000 after acquiring an additional 218,664 shares during the last quarter. Khrom Capital Management LLC boosted its holdings in shares of HCI Group by 20.7% during the 4th quarter. Khrom Capital Management LLC now owns 796,170 shares of the insurance provider's stock valued at $92,778,000 after acquiring an additional 136,642 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of HCI Group by 15.7% during the 4th quarter. Hood River Capital Management LLC now owns 940,000 shares of the insurance provider's stock valued at $109,538,000 after acquiring an additional 127,332 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of HCI Group by 2,878.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider's stock valued at $13,365,000 after acquiring an additional 110,838 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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.