Overview
HCI Group fiscal Q2 diluted EPS rises to $5.18 from $4.24 yr/yr
Gross premiums earned in fiscal Q2 up 14.8% yr/yr to $302.6 mln
Gross loss ratio improves to 21.3% from 29.7% yr/yr
Result Drivers
PREMIUM GROWTH - Gross premiums earned increased by 14.8% due to a higher volume of policies in force
LOSS REDUCTION - Decline in claims and litigation frequency led to lower losses and loss adjustment expenses
EXPENSE INCREASE - Higher gross premiums drove up policy acquisition and underwriting expenses
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$5.18
Q2 Net Income
$70.30 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 $197.50, about 29.2% above its August 6 closing price of $139.86
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNXbjPyl5
(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.)
