HCI Group (NYSE:HCI) Raised to Buy at StockNews.com

HCI Group (NYSE:HCI - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also commented on HCI. Oppenheimer restated an "outperform" rating and set a $140.00 target price on shares of HCI Group in a research report on Friday, April 5th. Compass Point lifted their price target on HCI Group from $90.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Truist Financial lifted their price target on HCI Group from $96.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, January 12th. William Blair raised HCI Group from a "market perform" rating to an "outperform" rating in a research note on Friday, March 8th. Finally, JMP Securities lifted their price target on HCI Group from $120.00 to $135.00 and gave the stock a "market outperform" rating in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $127.75.

HCI Group Stock Performance

Shares of NYSE:HCI traded down $1.02 during midday trading on Friday, hitting $103.84. The stock had a trading volume of 225,408 shares, compared to its average volume of 115,814. HCI Group has a 1 year low of $48.84 and a 1 year high of $121.57. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $112.01 and a two-hundred day moving average price of $94.63. The company has a market capitalization of $1.07 billion, a PE ratio of 13.74 and a beta of 1.15.

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

Insider Activity at HCI Group

In other HCI Group news, CEO Paresh Patel purchased 500 shares of the stock in a transaction on Thursday, April 11th. The stock was bought at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the acquisition, the chief executive officer now directly owns 349,500 shares of the company's stock, valued at $38,794,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other HCI Group news, CFO James Mark Harmsworth sold 20,000 shares of HCI Group stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total value of $2,342,400.00. Following the completion of the sale, the chief financial officer now owns 15,420 shares in the company, valued at approximately $1,805,990.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paresh Patel purchased 500 shares of the stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $111.00 per share, with a total value of $55,500.00. Following the acquisition, the chief executive officer now directly owns 349,500 shares in the company, valued at $38,794,500. The disclosure for this purchase can be found here. In the last quarter, insiders sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is owned by insiders.

Institutional Trading of HCI Group

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of HCI Group by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider's stock worth $58,034,000 after purchasing an additional 31,234 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of HCI Group during the 1st quarter worth about $939,000. SageView Advisory Group LLC purchased a new stake in shares of HCI Group during the 1st quarter worth about $219,000. Entropy Technologies LP purchased a new stake in shares of HCI Group during the 1st quarter worth about $275,000. Finally, Sei Investments Co. grew its holdings in shares of HCI Group by 29.0% during the 1st quarter. Sei Investments Co. now owns 6,461 shares of the insurance provider's stock worth $750,000 after purchasing an additional 1,453 shares during the period. Hedge funds and other 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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