BUZZ-HCI Group jumps after Q1 profit beats estimates

Reuters
05-09
BUZZ-HCI Group jumps after Q1 profit beats estimates

** Insurance firm HCI Group's HCI.N shares jump 12.3% to $173.92

** HCI late Thursday reported Q1 profit above Wall Street estimates for the 11th straight quarter, per LSEG

** Co also announced it would pursue a spin-off of its insurance technology unit Exzeo Group by the end of 2025

** William Blair says spin-off could unlock significant value for shareholders and will help clear conflict-of-interest concerns as Exzeo seeks homeowners insurance customers beyond HCI

** 4 of 6 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $177.50 - data compiled by LSEG

** As of last close, HCI stock up 32.9% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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