HCI Group Inc (NYSE:HCI) Receives Average Rating of “Buy” from Analysts

Shares of HCI Group Inc (NYSE:HCI) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $47.83.

HCI Group (NYSE:HCI) traded down 4.30% during trading on Monday, reaching $33.35. The company had a trading volume of 197,993 shares. The stock has a 50 day moving average price of $36.86 and a 200 day moving average price of $40.56. HCI Group has a 52 week low of $32.29 and a 52 week high of $50.38. The firm has a market capitalization of $363.18 million and a P/E ratio of 5.44.

HCI Group (NYSE:HCI) last released its earnings results on Tuesday, November 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. During the same period last year, the company earned $1.23 earnings per share. Analysts predict that HCI Group will post $6.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 18th. Stockholders of record on Friday, November 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, November 18th.

In other HCI Group news, CEO Paresh Patel purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, December 30th. The stock was bought at an average price of $35.78 per share, with a total value of $35,780.00. Following the transaction, the chief executive officer now directly owns 400,000 shares of the company’s stock, valued at approximately $14,312,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Several equities analysts recently issued reports on HCI shares. JMP Securities raised HCI Group from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research report on Tuesday, October 20th. Ladenburg Thalmann started coverage on HCI Group in a research report on Monday, November 30th. They issued a “buy” rating and a $50.00 target price on the stock. Piper Jaffray started coverage on HCI Group in a research report on Monday, December 28th. They issued an “overweight” rating and a $43.00 target price on the stock. Finally, Zacks Investment Research raised HCI Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday, October 28th.

12 Month Chart for NYSE:HCI

HCI Group, Inc. (NYSE:HCI) is a holding company. The Company’s operations include Insurance Operations, which offers property and casualty insurance, and reinsurance, and Other Operations, which include IT and real estate. Property and Casualty Insurance business is managed by its subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc. (HCPCI). Through HCPCI, the Company provides property and casualty insurance to homeowners, condominium owners and tenants residing in Florida. The Company manages its reinsurance business through its Bermuda domiciled wholly owned subsidiary, Claddaugh Casualty Insurance Company Ltd. (Claddaugh). HCI’s IT operations include a team of experienced software developers with knowledge in developing Web-based products and applications for mobile devices. The Company’s real estate operations consist of several properties it owns, including the headquarters building in Tampa, Florida and a secondary insurance operations site in Ocala, Florida.

 

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