JPMorgan Chase & Co. Trims Holdings in HCI Group, Inc. $HCI

JPMorgan Chase & Co. cut its stake in HCI Group, Inc. (NYSE:HCI) by 30.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,714 shares of the insurance provider’s stock after selling 5,066 shares during the quarter. JPMorgan Chase & Co. owned about 0.09% of HCI Group worth $2,248,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in HCI Group by 15.1% during the third quarter. Vanguard Group Inc. now owns 807,454 shares of the insurance provider’s stock valued at $154,975,000 after buying an additional 105,925 shares during the period. Danske Bank A S bought a new stake in HCI Group during the third quarter valued at $19,256,000. Marshall Wace LLP boosted its stake in HCI Group by 107.3% during the second quarter. Marshall Wace LLP now owns 158,224 shares of the insurance provider’s stock valued at $24,082,000 after buying an additional 81,884 shares during the period. Balyasny Asset Management L.P. boosted its stake in HCI Group by 46.8% during the second quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock valued at $28,222,000 after buying an additional 59,134 shares during the period. Finally, Invesco Ltd. boosted its stake in HCI Group by 85.6% during the third quarter. Invesco Ltd. now owns 127,203 shares of the insurance provider’s stock valued at $24,414,000 after buying an additional 58,663 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Trading Up 0.5%

Shares of HCI stock opened at $153.82 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $159.93 and a two-hundred day moving average price of $176.21. HCI Group, Inc. has a 12-month low of $129.58 and a 12-month high of $210.50. The firm has a market cap of $2.00 billion, a P/E ratio of 6.78 and a beta of 1.16.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $2.38. HCI Group had a return on equity of 36.34% and a net margin of 33.19%.The firm had revenue of $246.24 million during the quarter, compared to analyst estimates of $232.36 million. Equities analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, February 20th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 20th. HCI Group’s payout ratio is 7.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HCI. Weiss Ratings reissued a “buy (b)” rating on shares of HCI Group in a research note on Monday, December 29th. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Citigroup reissued a “market outperform” rating on shares of HCI Group in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, HCI Group currently has a consensus rating of “Buy” and an average price target of $231.67.

HCI Group Profile

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.