HCI Group’s (HCI) Buy Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of HCI Group (NYSE:HCI) in a research note published on Tuesday morning,Benzinga reports. They currently have a $145.00 target price on the insurance provider’s stock.

Several other research firms have also recently weighed in on HCI. Compass Point reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities reaffirmed a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research report on Tuesday, October 15th. Finally, Oppenheimer upped their price objective on shares of HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, HCI Group presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Stock Performance

Shares of HCI Group stock opened at $112.52 on Tuesday. HCI Group has a 12 month low of $81.35 and a 12 month high of $126.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.19 billion, a PE ratio of 9.40 and a beta of 1.11. The business has a fifty day simple moving average of $114.33 and a 200-day simple moving average of $102.06.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. HCI Group’s payout ratio is 13.37%.

Hedge Funds Weigh In On HCI Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCI. Khrom Capital Management LLC increased its stake in shares of HCI Group by 225.3% during 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 during the last quarter. Two Sigma Advisers LP increased its position 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 during the last quarter. American Century Companies Inc. raised its holdings 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of HCI Group by 58.3% in the third quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock worth $15,710,000 after buying an additional 54,050 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $6,102,000 after buying an additional 53,737 shares during the last quarter. Institutional investors 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.