HCI Group (NYSE:HCI) Reaches New 1-Year High Following Better-Than-Expected Earnings

HCI Group, Inc. (NYSE:HCI - Get Free Report) reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $129.48 and last traded at $129.07, with a volume of 8721 shares traded. The stock had previously closed at $123.96.

The insurance provider reported $0.31 EPS for the quarter, topping analysts' consensus estimates of ($2.75) by $3.06. The business had revenue of $161.88 million during the quarter, compared to analyst estimates of $175.11 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, February 21st. HCI Group's dividend payout ratio (DPR) is 18.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HCI shares. Oppenheimer lifted their price target on shares of HCI Group from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Truist Financial reaffirmed a "buy" rating and issued a $145.00 target price on shares of HCI Group in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

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Institutional Investors Weigh In On HCI Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of HCI Group in the fourth quarter worth approximately $3,526,000. ProShare Advisors LLC purchased a new position in shares of HCI Group during the 4th quarter worth $291,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of HCI Group by 5.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,702 shares of the insurance provider's stock valued at $548,000 after acquiring an additional 247 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of HCI Group in the 4th quarter worth $255,000. Finally, Graham Capital Management L.P. increased its stake in shares of HCI Group by 8.5% in the 4th quarter. Graham Capital Management L.P. now owns 8,864 shares of the insurance provider's stock worth $1,033,000 after purchasing an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

HCI Group Price Performance

The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.42 billion, a P/E ratio of 11.23 and a beta of 1.12. The firm has a 50 day moving average price of $119.85 and a 200 day moving average price of $112.65.

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.