The Manufacturers Life Insurance Company Takes Position in HCI Group, Inc. $HCI

The Manufacturers Life Insurance Company acquired a new position in HCI Group, Inc. (NYSE:HCI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,600 shares of the insurance provider’s stock, valued at approximately $981,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in HCI Group by 4.0% in the 4th 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 last quarter. Meeder Asset Management Inc. acquired a new position in shares of HCI Group during the second quarter valued at about $2,777,000. Intech Investment Management LLC raised its position in shares of HCI Group by 934.5% during the fourth quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider’s stock valued at $8,484,000 after buying an additional 39,979 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of HCI Group in the first quarter valued at about $2,302,000. Finally, Moran Wealth Management LLC lifted its stake in shares of HCI Group by 120.9% in the first quarter. Moran Wealth Management LLC now owns 31,898 shares of the insurance provider’s stock valued at $4,932,000 after buying an additional 17,461 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HCI shares. Citigroup restated a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Wall Street Zen downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research 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. Citizens Jmp boosted their price objective 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. Finally, Cantor Fitzgerald initiated coverage on HCI Group in a research note on Thursday, July 9th. They issued an “overweight” rating and a $225.00 target price for the company. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

HCI Group Price Performance

Shares of HCI Group stock opened at $186.35 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The firm’s 50-day simple moving average is $181.80 and its 200-day simple moving average is $166.69. HCI Group, Inc. has a twelve month low of $144.75 and a twelve month high of $210.50. The firm has a market cap of $2.32 billion, a P/E ratio of 8.03 and a beta of 1.03.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.56. The firm had revenue of $246.65 million during the quarter, compared to analysts’ expectations of $247.43 million. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. As a group, research analysts expect that HCI Group, Inc. will post 19.47 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 is 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.