Assenagon Asset Management S.A. Invests $7.45 Million in HCI Group, Inc. $HCI

Assenagon Asset Management S.A. bought a new position in shares of HCI Group, Inc. (NYSE:HCI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 48,942 shares of the insurance provider’s stock, valued at approximately $7,449,000. Assenagon Asset Management S.A. owned 0.42% of HCI Group at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in HCI Group by 16.6% during the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider’s stock worth $89,000 after acquiring an additional 85 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of HCI Group by 825.7% in the 1st quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 578 shares during the last quarter. Simplex Trading LLC acquired a new stake in shares of HCI Group during the 1st quarter worth about $148,000. Cresset Asset Management LLC bought a new position in HCI Group during the 1st quarter valued at about $209,000. Finally, Hancock Whitney Corp bought a new position in HCI Group during the 1st quarter valued at about $218,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on HCI shares. Compass Point raised shares of HCI Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $148.00 to $205.00 in a research note on Friday, May 30th. Wall Street Zen lowered HCI Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $181.25.

HCI Group Price Performance

Shares of HCI stock opened at $182.39 on Wednesday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 16.17 and a beta of 1.18. HCI Group, Inc. has a 12 month low of $91.06 and a 12 month high of $186.81. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $158.89 and a 200 day moving average price of $152.88.

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

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were issued a $0.40 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is 14.18%.

About HCI Group

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.