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