HCI Group, Inc. $HCI Stake Reduced by Royal Bank of Canada

Royal Bank of Canada cut its stake in HCI Group, Inc. (NYSE:HCI) by 32.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,353 shares of the insurance provider’s stock after selling 3,025 shares during the period. Royal Bank of Canada’s holdings in HCI Group were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Freestone Grove Partners LP boosted its holdings in shares of HCI Group by 353.6% during the fourth quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock valued at $52,735,000 after acquiring an additional 214,464 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of HCI Group by 2,944.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock worth $18,067,000 after acquiring an additional 113,019 shares during the period. Danske Bank A S acquired a new stake in shares of HCI Group in the 3rd quarter worth about $19,256,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of HCI Group by 129.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 125,399 shares of the insurance provider’s stock worth $24,038,000 after acquiring an additional 70,662 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in HCI Group by 46.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock valued at $28,222,000 after purchasing an additional 59,134 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HCI has been the subject of a number of analyst reports. Citigroup reissued a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Wall Street Zen lowered shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Cantor Fitzgerald assumed coverage on HCI Group in a research report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price objective for the company. Finally, Citizens Jmp increased their price objective on HCI Group from $255.00 to $265.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, HCI Group currently has an average rating of “Moderate Buy” and an average price target of $241.67.

HCI Group Price Performance

Shares of HCI opened at $182.09 on Friday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 7.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. HCI Group, Inc. has a one year low of $144.75 and a one year high of $210.50. The stock’s fifty day moving average is $178.21 and its 200-day moving average is $164.83.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.56. The business had revenue of $246.65 million for the quarter, compared to analysts’ expectations of $247.43 million. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. Equities analysts anticipate that HCI Group, Inc. will post 19.47 EPS for the current year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is presently 6.90%.

HCI Group Company 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.