Axxcess Wealth Management LLC Acquires 3,398 Shares of HCI Group, Inc. $HCI

Axxcess Wealth Management LLC boosted its holdings in HCI Group, Inc. (NYSE:HCI) by 30.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,526 shares of the insurance provider’s stock after acquiring an additional 3,398 shares during the period. Axxcess Wealth Management LLC’s holdings in HCI Group were worth $2,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in HCI Group by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock valued at $160,947,000 after acquiring an additional 32,167 shares during the period. American Century Companies Inc. raised its stake in HCI Group by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 556,670 shares of the insurance provider’s stock valued at $106,842,000 after acquiring an additional 35,029 shares during the period. Wellington Management Group LLP raised its stake in HCI Group by 16.7% in the 3rd quarter. Wellington Management Group LLP now owns 352,935 shares of the insurance provider’s stock valued at $67,739,000 after acquiring an additional 50,378 shares during the period. Dimensional Fund Advisors LP raised its stake in HCI Group by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 296,275 shares of the insurance provider’s stock valued at $56,858,000 after acquiring an additional 11,604 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake 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 acquiring an additional 59,134 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HCI shares. Weiss Ratings upgraded HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Wall Street Zen lowered HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One 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 company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $231.67.

HCI Group Stock Performance

HCI opened at $158.35 on Monday. The firm has a market cap of $2.02 billion, a P/E ratio of 6.95 and a beta of 1.09. HCI Group, Inc. has a 52-week low of $136.37 and a 52-week high of $210.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82. The business’s fifty day moving average is $155.20 and its 200-day moving average is $167.47.

HCI Group (NYSE:HCI) last released its earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.19. The company had revenue of $242.88 million for the quarter, compared to analyst estimates of $245.09 million. HCI Group had a return on equity of 30.88% and a net margin of 32.64%. Sell-side analysts expect that HCI Group, Inc. will post 17.82 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. HCI Group’s dividend payout ratio is 7.02%.

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.