Intech Investment Management LLC Reduces Holdings in HCI Group, Inc. $HCI

Intech Investment Management LLC lowered its position in shares of HCI Group, Inc. (NYSE:HCI) by 55.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,278 shares of the insurance provider’s stock after selling 5,305 shares during the period. Intech Investment Management LLC’s holdings in HCI Group were worth $821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC acquired a new position in HCI Group in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 184 shares during the period. Westside Investment Management Inc. grew its stake in shares of HCI Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 252 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 126 shares during the last quarter. Caldwell Trust Co purchased a new position in shares of HCI Group in the 2nd quarter valued at approximately $83,000. Finally, State of Wyoming increased its holdings in shares of HCI Group by 52.6% in the second quarter. State of Wyoming now owns 743 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 256 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Stock Down 3.0%

HCI opened at $164.40 on Tuesday. The firm has a market cap of $2.14 billion, a P/E ratio of 7.25 and a beta of 1.19. The business’s fifty day simple moving average is $167.65 and its 200 day simple moving average is $178.45. HCI Group, Inc. has a 52 week low of $129.58 and a 52 week high of $210.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

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

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 20th will be issued 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 is Friday, February 20th. HCI Group’s dividend payout ratio (DPR) is 7.05%.

Analysts Set New Price Targets

HCI has been the subject of several analyst reports. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Citizens Jmp lifted their price objective on HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of HCI Group in a research report on Monday, December 29th. Oppenheimer downgraded HCI Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 13th. Finally, Citigroup reissued a “market outperform” rating on shares of HCI Group in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.