HCI Group Inc. (HCI) Shares Sold by Alps Advisors Inc.
Alps Advisors Inc. decreased its position in shares of HCI Group Inc. (NYSE:HCI) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,817 shares of the company’s stock after selling 553 shares during the period. Alps Advisors Inc.’s holdings in HCI Group were worth $350,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in HCI Group during the second quarter worth approximately $2,135,000. Nisa Investment Advisors LLC increased its stake in HCI Group by 390.0% in the second quarter. Nisa Investment Advisors LLC now owns 9,800 shares of the company’s stock worth $267,000 after buying an additional 7,800 shares during the period. Foundry Partners LLC increased its stake in HCI Group by 47.4% in the second quarter. Foundry Partners LLC now owns 119,800 shares of the company’s stock worth $3,268,000 after buying an additional 38,520 shares during the period. AMP Capital Investors Ltd increased its stake in HCI Group by 15.8% in the first quarter. AMP Capital Investors Ltd now owns 21,300 shares of the company’s stock worth $708,000 after buying an additional 2,900 shares during the period. Finally, Hancock Holding Co. increased its stake in HCI Group by 1.1% in the first quarter. Hancock Holding Co. now owns 230,840 shares of the company’s stock worth $7,687,000 after buying an additional 2,470 shares during the period. 66.58% of the stock is owned by hedge funds and other institutional investors.
HCI Group (NYSE:HCI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.34. The business earned $61.52 million during the quarter, compared to the consensus estimate of $64.86 million. HCI Group had a return on equity of 13.37% and a net margin of 12.77%. The business’s revenue was down 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share.
Separately, JMP Securities dropped their price target on shares of HCI Group from $40.00 to $38.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. HCI Group currently has a consensus rating of “Buy” and an average price target of $45.50.
About HCI Group
HCI Group, Inc (HCI) is a holding company. The Company is engaged in providing property and casualty insurance to homeowners, condominium owners, and tenants in the state of Florida through its subsidiaries. The Company operates through property and casualty insurance operations segment. The Company’s operations include Insurance Operations and Other Operations.
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