Meeder Asset Management Inc. Makes New Investment in HCI Group, Inc. $HCI

Meeder Asset Management Inc. bought a new stake in HCI Group, Inc. (NYSE:HCI) in the second quarter, Holdings Channel.com reports. The institutional investor bought 15,845 shares of the insurance provider’s stock, valued at approximately $2,777,000.

A number of other institutional investors also recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of HCI Group during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of HCI Group by 519.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 184 shares during the period. Farther Finance Advisors LLC grew its position in shares of HCI Group by 62.8% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 71 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of HCI Group in the 1st quarter worth approximately $46,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citizens Jmp upped their price target on HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of HCI Group in a research report on Friday, August 7th. Wall Street Zen cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Zacks Research lowered HCI Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Finally, Cantor Fitzgerald began coverage on shares of HCI Group in a research report on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, HCI Group has an average rating of “Moderate Buy” and an average target price of $241.67.

HCI Group Price Performance

Shares of HCI Group stock opened at $184.84 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.30 billion, a PE ratio of 7.97 and a beta of 1.04. The business’s 50-day moving average price is $176.94 and its 200-day moving average price is $164.38. 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, topping analysts’ consensus estimates of $5.04 by $0.56. The company had revenue of $246.65 million during the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. Sell-side analysts forecast that HCI Group, Inc. will post 19.47 EPS for the current fiscal year.

HCI Group Announces Dividend

The firm also recently announced 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 yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group’s dividend payout ratio (DPR) is presently 6.90%.

HCI Group Company Profile

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.