HCI Group (NYSE:HCI) Reaches New 52-Week High – Here’s What Happened

HCI Group, Inc. (NYSE:HCI) shares hit a new 52-week high during 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 brokerages have recently weighed in on HCI. StockNews.com downgraded HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. 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 research note on Friday, November 8th. Compass Point reiterated a “neutral” rating and issued a $120.00 price objective (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Oppenheimer boosted 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price target on shares of HCI Group in a research note on Tuesday, October 15th. Two investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 9.75 and a beta of 1.12. The stock has a 50 day simple moving average of $112.19 and a two-hundred day simple moving average of $100.63.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a yield of 1.30%. HCI Group’s dividend payout ratio (DPR) is 13.37%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in shares of 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 acquiring an additional 5,649 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in HCI Group during the 1st quarter worth approximately $1,732,000. Royce & Associates LP acquired a new position in shares of HCI Group in the 3rd quarter valued at $621,000. AQR Capital Management LLC increased its stake in HCI Group by 27.2% in the second quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock valued at $4,905,000 after purchasing an additional 11,365 shares during the period. Finally, Victory Capital Management Inc. raised its stake in HCI Group by 152.7% during the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock valued at $2,380,000 after acquiring an additional 13,434 shares during 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.