Truist Financial Forecasts Strong Price Appreciation for HCI Group (NYSE:HCI) Stock

HCI Group (NYSE:HCI - Get Free Report) had its price objective upped by research analysts at Truist Financial from $140.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the insurance provider's stock. Truist Financial's price target points to a potential upside of 22.09% from the company's current price.

Several other research analysts have also weighed in on HCI. StockNews.com lowered shares of HCI Group from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Compass Point reissued a "neutral" rating and set a $120.00 price objective (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $145.00 target price on shares of HCI Group in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $140.00.

HCI Group Trading Up 2.8 %

Shares of HCI Group stock traded up $3.29 during mid-day trading on Friday, hitting $118.76. 387,515 shares of the stock were exchanged, compared to its average volume of 146,496. The company has a 50-day simple moving average of $108.00 and a 200 day simple moving average of $100.54. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 9.00 and a beta of 1.12. HCI Group has a twelve month low of $74.50 and a twelve month high of $124.00.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.63. HCI Group had a return on equity of 44.01% and a net margin of 21.63%. The company had revenue of $206.25 million for the quarter, compared to analyst estimates of $196.67 million. During the same quarter in the prior year, the company posted $1.22 EPS. Research analysts forecast that HCI Group will post 6.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HCI. Point72 DIFC Ltd purchased a new stake in shares of HCI Group during the second quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new position in HCI Group in the 2nd quarter worth $31,000. GAMMA Investing LLC lifted its holdings in HCI Group by 80.9% in the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider's stock worth $43,000 after buying an additional 178 shares in the last quarter. CWM LLC boosted its position in HCI Group by 115.4% in the 2nd quarter. CWM LLC now owns 924 shares of the insurance provider's stock valued at $85,000 after buying an additional 495 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of HCI Group by 49.1% during the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider's stock worth $98,000 after acquiring an additional 300 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.