Wedge Capital Management L L P NC Lowers Position in HCI Group Inc (NYSE:HCI)

Wedge Capital Management L L P NC cut its stake in HCI Group Inc (NYSE:HCI) by 34.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 24,518 shares of the insurance provider’s stock after selling 12,679 shares during the quarter. Wedge Capital Management L L P NC’s holdings in HCI Group were worth $992,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. 6 Meridian raised its stake in shares of HCI Group by 3.3% in the second quarter. 6 Meridian now owns 14,600 shares of the insurance provider’s stock worth $591,000 after purchasing an additional 466 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of HCI Group by 19,900.0% in the first quarter. Meeder Asset Management Inc. now owns 600 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 597 shares in the last quarter. Aperio Group LLC grew its holdings in shares of HCI Group by 10.7% in the second quarter. Aperio Group LLC now owns 6,331 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 613 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of HCI Group by 175.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,516 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 966 shares in the last quarter. Finally, HGK Asset Management Inc. grew its holdings in shares of HCI Group by 19.6% in the second quarter. HGK Asset Management Inc. now owns 7,785 shares of the insurance provider’s stock valued at $315,000 after acquiring an additional 1,277 shares in the last quarter. 60.61% of the stock is owned by hedge funds and other institutional investors.

In other HCI Group news, CFO James Mark Harmsworth sold 5,500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $41.10, for a total transaction of $226,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Loreen M. Spencer acquired 950 shares of HCI Group stock in a transaction on Thursday, June 6th. The shares were purchased at an average cost of $41.13 per share, with a total value of $39,073.50. Following the completion of the acquisition, the director now owns 950 shares of the company’s stock, valued at approximately $39,073.50. The disclosure for this purchase can be found here. 24.12% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the company. TheStreet raised HCI Group from a “c+” rating to a “b-” rating in a report on Friday, May 3rd. Zacks Investment Research lowered HCI Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 17th. Finally, ValuEngine lowered HCI Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.33.

HCI stock opened at $41.88 on Friday. The firm has a market cap of $335.71 million, a PE ratio of 24.14 and a beta of 0.76. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average of $40.64 and a 200-day moving average of $42.35. HCI Group Inc has a 12-month low of $36.72 and a 12-month high of $59.32.

HCI Group (NYSE:HCI) last released its earnings results on Tuesday, August 6th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. HCI Group had a return on equity of 7.95% and a net margin of 6.63%. The company had revenue of $58.63 million during the quarter, compared to analyst estimates of $55.26 million. On average, research analysts expect that HCI Group Inc will post 3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.82%. The ex-dividend date is Thursday, August 15th. HCI Group’s dividend payout ratio (DPR) is 49.54%.

HCI Group Company Profile

HCI Group, Inc engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.

Recommended Story: Differences Between Momentum Investing and Long Term Investing

Want to see what other hedge funds are holding HCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HCI Group Inc (NYSE:HCI).

Institutional Ownership by Quarter for HCI Group (NYSE:HCI)

Receive News & Ratings for HCI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCI Group and related companies with MarketBeat.com's FREE daily email newsletter.