HCI Group (NYSE:HCI) Sees Large Volume Increase – Here’s Why

HCI Group, Inc. (NYSE:HCI) saw unusually-strong trading volume on Tuesday . Approximately 202,833 shares changed hands during mid-day 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 set a $145.00 price target on shares of HCI Group in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Price Performance

The company’s 50-day simple moving average is $129.99 and its 200 day simple moving average is $119.34. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.07 and a beta of 1.14.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.75) by $3.06. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. The company had revenue of $161.88 million during the quarter, compared to the consensus estimate of $175.11 million. Equities research analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were given 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 was Friday, February 21st. HCI Group’s dividend payout ratio is 18.18%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HCI. Wasatch Advisors LP grew its position in shares of HCI Group by 288.9% in the fourth quarter. Wasatch Advisors LP now owns 294,349 shares of the insurance provider’s stock valued at $34,300,000 after purchasing an additional 218,664 shares during the last quarter. Khrom Capital Management LLC boosted its stake in HCI Group by 20.7% during the 4th quarter. Khrom Capital Management LLC now owns 796,170 shares of the insurance provider’s stock valued at $92,778,000 after purchasing an additional 136,642 shares during the period. Hood River Capital Management LLC grew its holdings in HCI Group by 15.7% in the 4th quarter. Hood River Capital Management LLC now owns 940,000 shares of the insurance provider’s stock valued at $109,538,000 after buying an additional 127,332 shares during the last quarter. Balyasny Asset Management L.P. increased its position in HCI Group by 2,878.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider’s stock worth $13,365,000 after buying an additional 110,838 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of HCI Group by 196.5% during the third quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock worth $16,252,000 after buying an additional 100,600 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

HCI Group Company Profile

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.