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

Globeflex Capital L P acquired a new stake in HCI Group, Inc. (NYSE:HCI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,156 shares of the insurance provider’s stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in HCI Group in the second quarter valued at about $323,098,000. Vanguard Group Inc. lifted its stake in HCI Group by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock worth $160,947,000 after purchasing an additional 32,167 shares during the period. State Street Corp boosted its holdings in HCI Group by 4.7% during the fourth quarter. State Street Corp now owns 384,788 shares of the insurance provider’s stock valued at $73,760,000 after purchasing an additional 17,299 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in HCI Group by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 354,884 shares of the insurance provider’s stock valued at $54,870,000 after purchasing an additional 36,348 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of HCI Group by 16.7% in the 3rd quarter. Wellington Management Group LLP now owns 352,935 shares of the insurance provider’s stock valued at $67,739,000 after purchasing an additional 50,378 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Cantor Fitzgerald initiated coverage on HCI Group in a research report on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Zacks Research cut HCI Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, HCI Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

HCI Group Stock Performance

NYSE:HCI opened at $185.19 on Tuesday. HCI Group, Inc. has a 1 year low of $144.75 and a 1 year high of $210.50. The firm has a 50 day moving average of $178.65 and a 200-day moving average of $165.09. 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 stock has a market capitalization of $2.30 billion, a P/E ratio of 7.98 and a beta of 1.04.

HCI Group (NYSE:HCI) last announced its 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 for the quarter, compared to the consensus estimate of $247.43 million. As a group, sell-side analysts anticipate that HCI Group, Inc. will post 19.47 EPS for the current fiscal year.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group’s payout ratio 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.