HCI Group (NYSE:HCI) Trading Up 13.8% on Better-Than-Expected Earnings

Shares of HCI Group, Inc. (NYSE:HCI) rose 13.8% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $172.14 and last traded at $176.30. Approximately 9,915 shares changed hands during trading, a decline of 93% from the average daily volume of 142,532 shares. The stock had previously closed at $154.87.

The insurance provider reported $5.35 EPS for the quarter, beating the consensus estimate of $4.49 by $0.86. The business had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.89 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, May 16th. HCI Group’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Ratings Changes

Separately, JMP Securities boosted their price target on HCI Group from $165.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in HCI Group by 77.3% in the 3rd quarter. Barclays PLC now owns 15,501 shares of the insurance provider’s stock worth $1,659,000 after acquiring an additional 6,756 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of HCI Group by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 113 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of HCI Group by 5.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 28,508 shares of the insurance provider’s stock valued at $3,322,000 after buying an additional 1,400 shares during the last quarter. Precision Wealth Strategies LLC bought a new stake in HCI Group in the 4th quarter worth about $432,000. Finally, Allspring Global Investments Holdings LLC raised its position in HCI Group by 80.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,916 shares of the insurance provider’s stock worth $11,781,000 after buying an additional 45,920 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Stock Up 8.0 %

The company’s 50 day simple moving average is $143.19 and its 200-day simple moving average is $126.52. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.80 billion, a P/E ratio of 13.98 and a beta of 1.23.

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.