HCI Group (NYSE:HCI) Reaches New 12-Month High – Should You Buy?

HCI Group, Inc. (NYSE:HCI) reached a new 52-week high during trading on Friday . The company 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.

Analysts Set New Price Targets

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

HCI Group Price Performance

The firm has a market capitalization of $1.29 billion, a PE ratio of 9.75 and a beta of 1.12. The firm’s fifty day moving average price is $112.19 and its 200 day moving average price is $100.63. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40.

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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, November 15th. HCI Group’s dividend payout ratio is currently 13.37%.

Hedge Funds Weigh In On HCI Group

Several institutional investors and hedge funds have recently modified their holdings of HCI. Khrom Capital Management LLC boosted its position in HCI Group by 225.3% in the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock worth $54,123,000 after purchasing an additional 406,698 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in HCI Group by 196.5% during the third quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock worth $16,252,000 after buying an additional 100,600 shares in the last quarter. American Century Companies Inc. grew its position in HCI Group by 130.5% during the second quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock valued at $10,164,000 after buying an additional 62,438 shares during the period. Wellington Management Group LLP increased its holdings in HCI Group by 58.3% in the third quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock valued at $15,710,000 after buying an additional 54,050 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in HCI Group by 1,648.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock valued at $6,102,000 after buying an additional 53,737 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

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.