HCI Group (NYSE:HCI) Reaches New 52-Week High - Still a Buy?

HCI Group, Inc. (NYSE:HCI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $124.95 and last traded at $121.89, with a volume of 22645 shares changing hands. The stock had previously closed at $116.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $145.00 price objective on shares of HCI Group in a research report on Tuesday, October 15th. StockNews.com cut shares of HCI Group from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Compass Point reissued a "neutral" rating and issued a $120.00 price objective (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Truist Financial boosted their price objective on shares of HCI Group from $140.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Oppenheimer boosted their price objective on shares of HCI Group from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, HCI Group presently has an average rating of "Moderate Buy" and a consensus target price of $140.00.

HCI Group Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $1.28 billion, a P/E ratio of 10.18 and a beta of 1.12. The firm's 50 day moving average is $112.53 and its 200 day moving average is $100.76.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. HCI Group's dividend payout ratio is currently 13.37%.

Institutional Trading of HCI Group

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in HCI Group by 153.6% in the second quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider's stock valued at $860,000 after purchasing an additional 5,649 shares during the period. Royce & Associates LP purchased a new position in shares of HCI Group during the 3rd quarter valued at approximately $621,000. AQR Capital Management LLC grew its stake in HCI Group by 27.2% in the 2nd quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider's stock valued at $4,905,000 after acquiring an additional 11,365 shares during the period. Victory Capital Management Inc. increased its holdings in HCI Group by 152.7% in the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider's stock worth $2,380,000 after acquiring an additional 13,434 shares in the last quarter. Finally, BOKF NA acquired a new position in HCI Group during the second quarter worth $533,000. 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.