HCI Group (NYSE:HCI) Sees Unusually-High Trading Volume – Still a Buy?

Shares of HCI Group, Inc. (NYSE:HCI) saw unusually-strong trading volume on Tuesday . Approximately 202,833 shares changed hands during trading, an increase of 47% from the previous session’s volume of 137,801 shares.The stock last traded at $148.50 and had previously closed at $149.23.

Analyst Upgrades and Downgrades

Separately, Truist Financial reaffirmed a “buy” rating and issued a $145.00 price target on shares of HCI Group in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Price Performance

The firm has a market cap of $1.56 billion, a P/E ratio of 12.07 and a beta of 1.14. The company has a 50-day moving average of $129.99 and a 200 day moving average of $119.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of ($2.75) by $3.06. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. The business had revenue of $161.88 million for the quarter, compared to analyst estimates of $175.11 million. On average, sell-side analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, February 21st. HCI Group’s dividend payout ratio is presently 18.18%.

Hedge Funds Weigh In On HCI Group

Several hedge funds have recently added to or reduced their stakes in HCI. Point72 DIFC Ltd lifted its stake in shares of HCI Group by 75.0% in the 3rd quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 213 shares during the period. GAMMA Investing LLC increased its holdings in HCI Group by 28.4% in 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 during the last quarter. KLP Kapitalforvaltning AS bought a new stake in HCI Group in the fourth quarter valued at about $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in HCI Group during the fourth quarter worth about $211,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of HCI Group during the 4th quarter worth about $255,000. 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.