Allspring Global Investments Holdings LLC Reduces Stock Position in HCI Group, Inc. $HCI

Allspring Global Investments Holdings LLC lessened its stake in HCI Group, Inc. (NYSE:HCI) by 28.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,105 shares of the insurance provider’s stock after selling 23,818 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.53% of HCI Group worth $8,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HCI. American Century Companies Inc. grew its holdings in HCI Group by 168.8% in the 1st quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider’s stock valued at $67,569,000 after buying an additional 284,315 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of HCI Group by 13.3% during the 1st quarter. Wellington Management Group LLP now owns 175,376 shares of the insurance provider’s stock valued at $26,171,000 after acquiring an additional 20,537 shares during the last quarter. Millennium Management LLC grew its holdings in shares of HCI Group by 78.7% in the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider’s stock valued at $15,278,000 after purchasing an additional 45,097 shares during the period. Northern Trust Corp grew its holdings in shares of HCI Group by 3.3% in the first quarter. Northern Trust Corp now owns 91,127 shares of the insurance provider’s stock valued at $13,599,000 after purchasing an additional 2,897 shares during the period. Finally, Principal Financial Group Inc. increased its position in HCI Group by 2.2% during the first quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider’s stock worth $9,202,000 after purchasing an additional 1,332 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on HCI shares. Zacks Research upgraded shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of HCI Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, HCI Group currently has an average rating of “Buy” and an average price target of $181.25.

HCI Group Stock Performance

NYSE:HCI opened at $189.55 on Monday. HCI Group, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $201.91. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average price of $176.73 and a 200 day moving average price of $159.09. The stock has a market capitalization of $2.46 billion, a P/E ratio of 16.80 and a beta of 1.17.

HCI Group (NYSE:HCI) last released its quarterly 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. HCI Group had a return on equity of 25.84% and a net margin of 18.58%.The company had revenue of $221.92 million for the quarter, compared to analysts’ expectations of $218.98 million. Equities research analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current year.

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.