Alden Global Capital LLC Invests $3.06 Million in HCI Group, Inc. $HCI

Alden Global Capital LLC purchased a new stake in HCI Group, Inc. (NYSE:HCI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,100 shares of the insurance provider’s stock, valued at approximately $3,059,000. HCI Group accounts for about 1.9% of Alden Global Capital LLC’s investment portfolio, making the stock its 15th largest holding. Alden Global Capital LLC owned approximately 0.16% of HCI Group at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. grew its stake in HCI Group by 20.6% in the 2nd quarter. Raymond James Financial Inc. now owns 36,607 shares of the insurance provider’s stock valued at $5,572,000 after buying an additional 6,262 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of HCI Group by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 4,427 shares of the insurance provider’s stock worth $674,000 after acquiring an additional 210 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of HCI Group by 64.6% in the second quarter. Squarepoint Ops LLC now owns 7,426 shares of the insurance provider’s stock worth $1,130,000 after acquiring an additional 2,914 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of HCI Group by 5.8% in the second quarter. NewEdge Advisors LLC now owns 2,750 shares of the insurance provider’s stock worth $419,000 after acquiring an additional 150 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of HCI Group by 24.8% in the second quarter. Qube Research & Technologies Ltd now owns 180,420 shares of the insurance provider’s stock valued at $27,460,000 after purchasing an additional 35,798 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Stock Up 2.5%

Shares of NYSE:HCI opened at $186.72 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of 11.92 and a beta of 1.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80. HCI Group, Inc. has a 52-week low of $106.89 and a 52-week high of $210.50. The firm has a fifty day moving average of $187.29 and a 200 day moving average of $168.87.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $2.46. HCI Group had a return on equity of 31.18% and a net margin of 24.97%.The firm had revenue of $216.35 million during the quarter, compared to analyst estimates of $223.53 million. As a group, research analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio is currently 10.22%.

Wall Street Analyst Weigh In

HCI has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of HCI Group in a report on Monday. Oppenheimer cut HCI Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 13th. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Citizens Jmp upped their target price on shares of HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a report on Monday, November 10th. Finally, Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, HCI Group currently has an average rating of “Buy” and a consensus price target of $230.00.

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.