Overview
US insurance and real estate firm's Q1 net income and diluted EPS rose yr/yr
Gross premiums earned increased, driven by higher volume of insurance policies in force
Company repurchased $17.5 mln in shares under new buyback program in Q1
Outlook
Company did not provide specific guidance for the current qtr or full yr
Result Drivers
HIGHER POLICY VOLUME - Gross premiums earned rose due to a higher volume of insurance policies in force
INVESTMENT INCOME - Net investment income increased, driven by growth in invested assets
WEATHER LOSSES - Losses and loss adjustment expenses increased due to higher policy volume and some weather in the Northeast
Company press release: ID:nGNX3D6Bh6
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$5.45
Q1 Net Income
$85 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for Hci Group Inc is $235.00, about 51.8% above its May 5 closing price of $154.78
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
