HCI Group (NYSE:HCI) Price Target Raised to $145.00 at Truist Financial

HCI Group (NYSE:HCI) had its price target boosted by equities researchers at Truist Financial from $140.00 to $145.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price objective suggests a potential upside of 24.74% from the stock’s previous close.

Several other equities analysts have also commented on the company. Compass Point reiterated a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Finally, StockNews.com lowered HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, HCI Group has an average rating of “Moderate Buy” and a consensus price target of $137.50.

HCI Group Stock Performance

NYSE HCI opened at $116.24 on Friday. HCI Group has a fifty-two week low of $69.61 and a fifty-two week high of $124.00. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 9.09 and a beta of 1.12. The business has a fifty day moving average of $108.00 and a 200-day moving average of $100.54. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.41.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.63. HCI Group had a return on equity of 44.01% and a net margin of 21.63%. The company had revenue of $206.25 million during the quarter, compared to analysts’ expectations of $196.67 million. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, analysts predict that HCI Group will post 6.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HCI Group

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in HCI Group during the second quarter valued at about $26,000. Gladius Capital Management LP purchased a new stake in HCI Group during the second quarter valued at about $31,000. GAMMA Investing LLC grew its position in HCI Group by 80.9% during the third quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 178 shares during the period. CWM LLC grew its position in HCI Group by 115.4% during the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after acquiring an additional 495 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in HCI Group by 49.1% during the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 300 shares during the period. Hedge funds and other 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.