Castleark Management LLC Acquires New Position in HCI Group, Inc. $HCI

Castleark Management LLC bought a new position in HCI Group, Inc. (NYSE:HCI) in the 2nd quarter, Holdings Channel reports. The fund bought 39,800 shares of the insurance provider’s stock, valued at approximately $6,058,000.

Other large investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its stake in shares of HCI Group by 17.7% in the second quarter. Public Sector Pension Investment Board now owns 31,761 shares of the insurance provider’s stock worth $4,834,000 after purchasing an additional 4,787 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in HCI Group by 4.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 7,552 shares of the insurance provider’s stock worth $1,148,000 after buying an additional 350 shares during the period. Tower Research Capital LLC TRC increased its stake in HCI Group by 56.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 984 shares of the insurance provider’s stock worth $150,000 after buying an additional 357 shares in the last quarter. State of Tennessee Department of Treasury raised its holdings in HCI Group by 281.7% during the second quarter. State of Tennessee Department of Treasury now owns 5,707 shares of the insurance provider’s stock valued at $869,000 after acquiring an additional 4,212 shares during the period. Finally, Two Sigma Securities LLC bought a new position in shares of HCI Group in the second quarter worth about $501,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

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

HCI Group Price Performance

HCI stock opened at $186.72 on Friday. HCI Group, Inc. has a 52 week low of $106.89 and a 52 week high of $210.50. The firm has a market capitalization of $2.42 billion, a P/E ratio of 11.92 and a beta of 1.20. The company has a fifty day simple moving average of $187.29 and a two-hundred day simple moving average of $168.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04.

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

HCI Group Announces Dividend

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

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.