Bridgewater Advisors Inc. Buys Shares of 4,984 HCI Group, Inc. $HCI

Bridgewater Advisors Inc. bought a new stake in HCI Group, Inc. (NYSE:HCI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,984 shares of the insurance provider’s stock, valued at approximately $894,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in HCI Group by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock valued at $160,947,000 after acquiring an additional 32,167 shares during the last quarter. Assetmark Inc. increased its stake in HCI Group by 10.4% during the fourth quarter. Assetmark Inc. now owns 35,806 shares of the insurance provider’s stock worth $6,864,000 after acquiring an additional 3,380 shares during the last quarter. Intech Investment Management LLC raised its position in HCI Group by 934.5% in the fourth quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider’s stock valued at $8,484,000 after purchasing an additional 39,979 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in HCI Group in the first quarter valued at $2,302,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of HCI Group by 642.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 67,460 shares of the insurance provider’s stock valued at $12,931,000 after purchasing an additional 58,377 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Stock Down 0.7%

NYSE:HCI opened at $184.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.69 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $175.82 and its two-hundred day moving average is $163.92. HCI Group, Inc. has a 52 week low of $144.75 and a 52 week high of $210.50. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 7.97 and a beta of 1.04.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, topping 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 business had revenue of $246.65 million during the quarter, compared to analyst estimates of $247.43 million. Research analysts anticipate that HCI Group, Inc. will post 19.33 EPS for the current year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be issued a dividend of $0.40 per share. 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 6.90%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HCI. Cantor Fitzgerald started coverage on HCI Group in a report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price target for the company. Citizens Jmp boosted their price objective on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Zacks Research cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, HCI Group presently has a consensus rating of “Moderate Buy” and an average price target of $241.67.

HCI Group 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.