JMP Securities Increases HCI Group (NYSE:HCI) Price Target to $135.00

HCI Group (NYSE:HCI - Get Free Report) had its target price boosted by analysts at JMP Securities from $120.00 to $135.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "market outperform" rating on the insurance provider's stock. JMP Securities' price target suggests a potential upside of 28.42% from the company's current price.

HCI has been the subject of several other research reports. Truist Financial boosted their price objective on shares of HCI Group from $96.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, January 12th. William Blair upgraded shares of HCI Group from a "market perform" rating to an "outperform" rating in a research report on Friday, March 8th. Oppenheimer reiterated an "outperform" rating and issued a $140.00 price target on shares of HCI Group in a research report on Friday, April 5th. Finally, Compass Point upped their price target on shares of HCI Group from $90.00 to $124.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.75.

HCI Group Stock Down 8.8 %

NYSE HCI traded down $10.14 on Thursday, hitting $105.12. 893,953 shares of the stock were exchanged, compared to its average volume of 140,149. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group has a fifty-two week low of $48.84 and a fifty-two week high of $121.57. The company has a market cap of $1.08 billion, a PE ratio of 13.90 and a beta of 1.15. The company has a 50-day moving average price of $111.92 and a 200-day moving average price of $94.31.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same quarter in the previous year, the firm earned $0.06 EPS. Sell-side analysts anticipate that HCI Group will post 10.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Paresh Patel acquired 1,000 shares of the business's stock in a transaction on Tuesday, April 9th. The stock was bought at an average price of $114.90 per share, for a total transaction of $114,900.00. Following the transaction, the chief executive officer now owns 349,000 shares in the company, valued at $40,100,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sanjay Madhu sold 3,294 shares of the company's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $118.72, for a total transaction of $391,063.68. Following the transaction, the director now directly owns 71,706 shares of the company's stock, valued at approximately $8,512,936.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paresh Patel purchased 1,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were bought at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the purchase, the chief executive officer now owns 349,000 shares in the company, valued at $40,100,100. The disclosure for this purchase can be found here. In the last quarter, insiders sold 113,102 shares of company stock worth $13,198,303. 25.25% of the stock is owned by insiders.

Hedge Funds Weigh In On HCI Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP grew its stake in shares of HCI Group by 5.1% during the 4th quarter. Wasatch Advisors LP now owns 186,053 shares of the insurance provider's stock worth $16,261,000 after purchasing an additional 8,992 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of HCI Group by 344.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 72,022 shares of the insurance provider's stock worth $8,360,000 after purchasing an additional 55,817 shares during the period. Wellington Management Group LLP acquired a new position in shares of HCI Group during the 4th quarter worth $5,633,000. Principal Financial Group Inc. grew its stake in shares of HCI Group by 45.0% during the 1st quarter. Principal Financial Group Inc. now owns 45,387 shares of the insurance provider's stock worth $5,269,000 after purchasing an additional 14,086 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in HCI Group by 304.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 32,027 shares of the insurance provider's stock valued at $2,799,000 after acquiring an additional 24,117 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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.