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

HCI Group (NYSE:HCI - Free Report) had its price objective upped by Oppenheimer from $140.00 to $150.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the insurance provider's stock.

Several other brokerages also recently commented on HCI. StockNews.com downgraded HCI Group from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Compass Point reissued a "neutral" rating and issued a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities restated a "market outperform" rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Finally, Truist Financial increased their price objective on shares of HCI Group from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

HCI Group Price Performance

HCI traded up $3.29 during midday trading on Friday, reaching $118.76. 387,515 shares of the company's stock were exchanged, compared to its average volume of 146,496. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $108.46 and a two-hundred day simple moving average of $100.58. HCI Group has a one year low of $74.50 and a one year high of $124.00. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 9.29 and a beta of 1.12.

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

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group's dividend payout ratio (DPR) is presently 12.51%.

Institutional Trading of HCI Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Jupiter Asset Management Ltd. acquired a new stake in shares of HCI Group during the first quarter worth $939,000. SG Americas Securities LLC increased its stake in shares of HCI Group by 153.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider's stock valued at $860,000 after acquiring an additional 5,649 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of HCI Group by 271.1% in the 1st quarter. BNP Paribas Financial Markets now owns 30,783 shares of the insurance provider's stock valued at $3,573,000 after acquiring an additional 22,489 shares during the period. Quadrature Capital Ltd boosted its stake in HCI Group by 19.0% during the 1st quarter. Quadrature Capital Ltd now owns 35,520 shares of the insurance provider's stock worth $4,120,000 after acquiring an additional 5,676 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in HCI Group during the first quarter valued at approximately $1,732,000. 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.