HCI Group (NYSE:HCI) Share Price Breaks Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• HCI Group shares rose above their 200-day moving average, reaching $205.56 and last trading near $203.90, compared with the $172.61 average.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $241.67; individual targets include $225 from Cantor Fitzgerald and $235 from Truist Financial.
• HCI reported quarterly earnings of $5.60 per share, beating estimates by $0.56, while posting a 28.8% return on equity and 32.6% net margin. Institutional investors own nearly 87% of the company.

HCI Group, Inc. (NYSE:HCI - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $172.61 and traded as high as $205.56. HCI Group shares last traded at $203.8990, with a volume of 300,372 shares trading hands.

Analysts Set New Price Targets

HCI has been the subject of several research analyst reports. Weiss Ratings downgraded shares of HCI Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Cantor Fitzgerald started coverage on shares of HCI Group in a research report on Thursday, July 9th. They issued an "overweight" rating and a $225.00 target price for the company. Zacks Research raised shares of HCI Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Truist Financial set a $235.00 target price on shares of HCI Group in a research note on Thursday, October 1st. Finally, Citigroup restated a "market outperform" rating on shares of HCI Group in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $241.67.

HCI Group Stock Up 2.1%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50 day moving average price of $186.41 and a 200 day moving average price of $172.61. The company has a market cap of $2.54 billion, a P/E ratio of 8.79 and a beta of 1.05.

HCI Group (NYSE:HCI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.56. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. The business had revenue of $246.65 million during the quarter, compared to analyst estimates of $247.43 million. Research analysts expect that HCI Group, Inc. will post 21.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HCI Group

Several large investors have recently made changes to their positions in HCI. BlackRock Inc. acquired a new position in shares of HCI Group in the 2nd quarter worth $323,098,000. Dimensional Fund Advisors LP raised its position in shares of HCI Group by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 354,884 shares of the insurance provider's stock worth $54,870,000 after purchasing an additional 36,348 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of HCI Group during the second quarter worth $30,766,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of HCI Group by 2,944.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider's stock valued at $18,067,000 after purchasing an additional 113,019 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of HCI Group during the second quarter valued at $17,422,000. Institutional investors own 86.99% of the company's stock.

About HCI Group

HCI Group, Inc is a Florida-based holding company focused primarily on property and casualty insurance. Through its insurance subsidiaries, the company provides residential property insurance products, including homeowners, condominium, renters and dwelling coverage, designed to protect policyholders against risks such as wind, fire, theft and other covered losses.

HCI's insurance operations have historically been concentrated in Florida, one of the largest and most challenging residential property-insurance markets in the United States.

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