Zacks Research Downgrades HCI Group (NYSE:HCI) to Hold

HCI Group (NYSE:HCI) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on HCI. Oppenheimer downgraded HCI Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Wall Street Zen raised HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Citizens Jmp upped their price target on shares of HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a research note on Monday, November 10th. Truist Financial raised their price objective on shares of HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of HCI Group in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, HCI Group has an average rating of “Moderate Buy” and an average target price of $230.00.

HCI Group Price Performance

Shares of HCI opened at $176.26 on Monday. The stock has a market cap of $2.28 billion, a PE ratio of 11.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80. HCI Group has a fifty-two week low of $112.61 and a fifty-two week high of $210.50. The firm’s 50-day simple moving average is $182.04 and its two-hundred day simple moving average is $173.39.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $2.46. HCI Group had a net margin of 24.97% and a return on equity of 31.18%. The firm had revenue of $216.35 million during the quarter, compared to analyst estimates of $223.53 million. Analysts anticipate that HCI Group will post 6.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in HCI Group by 5.5% in the 1st quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider’s stock worth $2,093,000 after purchasing an additional 727 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of HCI Group by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider’s stock worth $736,000 after acquiring an additional 228 shares during the period. Millennium Management LLC grew its holdings in shares of HCI Group by 78.7% in the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider’s stock worth $15,278,000 after acquiring an additional 45,097 shares during the period. Exchange Traded Concepts LLC increased its position in HCI Group by 17.0% during the second quarter. Exchange Traded Concepts LLC now owns 26,232 shares of the insurance provider’s stock valued at $3,993,000 after acquiring an additional 3,802 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of HCI Group in the 2nd quarter worth approximately $7,449,000. Institutional investors own 86.99% of the company’s stock.

HCI Group Company Profile

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.