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

HCI Group (NYSE:HCI) had its price target hoisted by Truist Financial from $140.00 to $145.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

HCI has been the subject of several other reports. Compass Point reissued a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. StockNews.com lowered shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Trading Down 3.5 %

HCI opened at $114.52 on Friday. 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 firm has a market cap of $1.20 billion, a price-to-earnings ratio of 9.48 and a beta of 1.12. HCI Group has a 12 month low of $74.62 and a 12 month high of $124.00. The stock has a fifty day moving average price of $108.46 and a 200-day moving average price of $100.39.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s payout ratio is currently 13.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of HCI Group in the first quarter valued at about $407,000. BNP Paribas Financial Markets raised its position in HCI Group by 271.1% during the 1st quarter. BNP Paribas Financial Markets now owns 30,783 shares of the insurance provider’s stock worth $3,573,000 after buying an additional 22,489 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in HCI Group by 64.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,752 shares of the insurance provider’s stock valued at $1,480,000 after acquiring an additional 4,997 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of HCI Group by 15.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 5,966 shares of the insurance provider’s stock valued at $693,000 after acquiring an additional 776 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of HCI Group by 107.3% in the first quarter. SG Americas Securities LLC now owns 3,677 shares of the insurance provider’s stock worth $427,000 after acquiring an additional 1,903 shares during the period. 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.