Connor Clark & Lunn Investment Management Ltd. Sells 330 Shares of HCI Group, Inc. $HCI

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 19.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,392 shares of the insurance provider’s stock after selling 330 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in HCI Group were worth $208,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Hood River Capital Management LLC boosted its stake in shares of HCI Group by 15.7% during the 4th quarter. Hood River Capital Management LLC now owns 940,000 shares of the insurance provider’s stock worth $109,538,000 after buying an additional 127,332 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of HCI Group by 5.5% during the 4th quarter. Wellington Management Group LLP now owns 154,839 shares of the insurance provider’s stock worth $18,043,000 after buying an additional 8,101 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of HCI Group by 2,878.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider’s stock worth $13,365,000 after buying an additional 110,838 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of HCI Group by 17,305.3% during the 1st quarter. GAMMA Investing LLC now owns 88,941 shares of the insurance provider’s stock worth $132,730,000 after buying an additional 88,430 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of HCI Group by 9.1% during the 4th quarter. Northern Trust Corp now owns 88,230 shares of the insurance provider’s stock worth $10,281,000 after buying an additional 7,349 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HCI shares. Compass Point upgraded shares of HCI Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $148.00 to $205.00 in a research note on Friday, May 30th. JMP Securities raised their target price on shares of HCI Group from $210.00 to $225.00 and gave the company a “market outperform” rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, HCI Group has an average rating of “Buy” and an average price target of $181.25.

HCI Group Stock Up 2.5%

HCI Group stock opened at $162.0440 on Thursday. The stock has a market cap of $2.10 billion, a P/E ratio of 14.37 and a beta of 1.24. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. HCI Group, Inc. has a twelve month low of $90.01 and a twelve month high of $176.40. The company’s 50-day moving average price is $146.49 and its two-hundred day moving average price is $144.54.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, August 7th. The insurance provider reported $5.18 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.71. The firm had revenue of $221.92 million for the quarter, compared to analysts’ expectations of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. As a group, analysts expect that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. HCI Group’s dividend payout ratio is currently 14.18%.

HCI Group Company Profile

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.