Northern Trust Corp Acquires 2,897 Shares of HCI Group, Inc. $HCI

Northern Trust Corp boosted its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,127 shares of the insurance provider’s stock after buying an additional 2,897 shares during the quarter. Northern Trust Corp owned approximately 0.85% of HCI Group worth $13,599,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in HCI Group by 168.8% during the 1st quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider’s stock worth $67,569,000 after acquiring an additional 284,315 shares during the period. Wellington Management Group LLP raised its stake in 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 acquiring an additional 8,101 shares during the period. Balyasny Asset Management L.P. raised its stake in 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 acquiring an additional 110,838 shares during the period. GAMMA Investing LLC raised its stake in 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 acquiring an additional 88,430 shares during the period. Finally, FJ Capital Management LLC raised its stake in HCI Group by 65.7% during the 4th quarter. FJ Capital Management LLC now owns 62,250 shares of the insurance provider’s stock worth $7,254,000 after acquiring an additional 24,682 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCI. JMP Securities raised their target price on shares of HCI Group from $210.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Monday, May 19th. Wall Street Zen downgraded HCI Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Compass Point upgraded HCI Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $148.00 to $205.00 in a research note on Friday, May 30th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, HCI Group presently has an average rating of “Buy” and an average target price of $181.25.

HCI Group Stock Performance

NYSE:HCI opened at $171.04 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. HCI Group, Inc. has a 1 year low of $91.06 and a 1 year high of $176.40. The stock’s 50 day simple moving average is $149.32 and its two-hundred day simple moving average is $147.60. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 15.16 and a beta of 1.18.

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

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group’s payout ratio is presently 14.18%.

HCI Group 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.