Globeflex Capital L P Acquires Shares of 4,156 HCI Group, Inc. $HCI

Globeflex Capital L P bought a new position in HCI Group, Inc. (NYSE:HCI) in the second quarter, HoldingsChannel.com reports. The fund bought 4,156 shares of the insurance provider’s stock, valued at approximately $728,000.

A number of other large investors also recently modified their holdings of HCI. BlackRock Inc. acquired a new stake in shares of HCI Group in the second quarter valued at approximately $323,098,000. Freestone Grove Partners LP lifted its holdings in HCI Group by 353.6% during the 4th quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock worth $52,735,000 after buying an additional 214,464 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in HCI Group by 2,944.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock worth $18,067,000 after buying an additional 113,019 shares in the last quarter. Danske Bank A S bought a new position in HCI Group in the 3rd quarter valued at $19,256,000. Finally, Bank of New York Mellon Corp bought a new position in HCI Group in the 2nd quarter valued at $13,805,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Cantor Fitzgerald assumed coverage on HCI Group in a report on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price target on the stock. Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Citizens Jmp upped their target price on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, HCI Group has an average rating of “Moderate Buy” and an average price target of $241.67.

HCI Group Stock Up 1.5%

Shares of HCI Group stock opened at $185.19 on Tuesday. The business has a fifty day simple moving average of $178.65 and a 200 day simple moving average of $165.09. The stock has a market cap of $2.30 billion, a PE ratio of 7.98 and a beta of 1.04. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.03. HCI Group, Inc. has a 12 month low of $144.75 and a 12 month high of $210.50.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.56. HCI Group had a return on equity of 28.80% and a net margin of 32.60%.The firm had revenue of $246.65 million for the quarter, compared to analyst estimates of $247.43 million. Research analysts predict that HCI Group, Inc. will post 19.47 EPS for the current year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group’s dividend payout ratio (DPR) is currently 6.90%.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.