Brokerages Set HCI Group, Inc. (NYSE:HCI) Target Price at $127.75

Shares of HCI Group, Inc. (NYSE:HCI) have received an average rating of “Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued a report on the stock in the last year is $127.75.

Several analysts recently weighed in on the stock. StockNews.com cut shares of HCI Group from a “buy” rating to a “hold” rating in a report on Friday. JMP Securities lifted their price target on shares of HCI Group from $120.00 to $135.00 and gave the company a “market outperform” rating in a report on Thursday, May 9th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 price target on shares of HCI Group in a report on Friday, April 5th.

HCI Group Stock Down 3.0 %

Shares of HCI Group stock opened at $91.44 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 0.61. HCI Group has a 52-week low of $48.84 and a 52-week high of $121.57. The stock has a market capitalization of $957.93 million, a price-to-earnings ratio of 9.30 and a beta of 1.13. The company’s 50 day moving average price is $92.56 and its 200-day moving average price is $100.09.

HCI Group (NYSE:HCI) last issued its earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.91. The firm had revenue of $206.61 million for the quarter, compared to analysts’ expectations of $189.17 million. HCI Group had a net margin of 17.72% and a return on equity of 40.30%. Equities research analysts forecast that HCI Group will post 11.63 EPS for the current year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, August 16th. HCI Group’s dividend payout ratio is currently 16.28%.

Hedge Funds Weigh In On HCI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in HCI Group by 12.5% during the second quarter. Rhumbline Advisers now owns 20,938 shares of the insurance provider’s stock valued at $1,930,000 after buying an additional 2,334 shares during the period. Pinnacle Wealth Management LLC purchased a new position in shares of HCI Group in the 2nd quarter worth about $1,282,000. Principal Financial Group Inc. raised its position in shares of HCI Group by 6.3% in the 2nd quarter. Principal Financial Group Inc. now owns 48,266 shares of the insurance provider’s stock worth $4,449,000 after purchasing an additional 2,879 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of HCI Group in the 2nd quarter worth about $217,000. Finally, Bank of New York Mellon Corp raised its position in shares of HCI Group by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,636 shares of the insurance provider’s stock worth $6,050,000 after purchasing an additional 4,654 shares during the last quarter. 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.