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

HCI Group (NYSE:HCI) had its price target lifted by Truist Financial from $140.00 to $145.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the insurance provider’s stock.

A number of other research firms have also recently weighed in on HCI. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price objective on shares of HCI Group in a report on Tuesday, October 15th. StockNews.com lowered HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Compass Point reiterated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Price Performance

Shares of NYSE HCI opened at $114.52 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 9.48 and a beta of 1.12. The firm’s 50 day simple moving average is $108.46 and its 200-day simple moving average is $100.39. HCI Group has a 12 month low of $74.62 and a 12 month high of $124.00.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. HCI Group’s dividend payout ratio (DPR) is presently 13.37%.

Hedge Funds Weigh In On HCI Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of HCI Group during the first quarter worth approximately $407,000. BNP Paribas Financial Markets boosted its stake in HCI Group by 271.1% during the 1st quarter. BNP Paribas Financial Markets now owns 30,783 shares of the insurance provider’s stock worth $3,573,000 after purchasing an additional 22,489 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of HCI Group by 64.4% during the first quarter. Janney Montgomery Scott LLC now owns 12,752 shares of the insurance provider’s stock worth $1,480,000 after buying an additional 4,997 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of HCI Group by 15.0% in the first quarter. Texas Permanent School Fund Corp now owns 5,966 shares of the insurance provider’s stock valued at $693,000 after buying an additional 776 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of HCI Group by 107.3% in the first quarter. SG Americas Securities LLC now owns 3,677 shares of the insurance provider’s stock worth $427,000 after buying an additional 1,903 shares in the last quarter. 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.