HCI Group, Inc. $HCI Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in shares of HCI Group, Inc. (NYSE:HCI) by 36.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,293 shares of the insurance provider’s stock after selling 6,600 shares during the period. Bessemer Group Inc.’s holdings in HCI Group were worth $1,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HCI. Royal Bank of Canada raised its position in shares of HCI Group by 5.5% during the 1st quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider’s stock valued at $2,093,000 after buying an additional 727 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in HCI Group by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider’s stock worth $736,000 after acquiring an additional 228 shares during the period. Millennium Management LLC increased its stake in HCI Group by 78.7% during the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider’s stock worth $15,278,000 after acquiring an additional 45,097 shares during the last quarter. Russell Investments Group Ltd. raised its position in HCI Group by 115.9% in the second quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider’s stock valued at $213,000 after purchasing an additional 751 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in HCI Group by 557.6% in the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HCI shares. Wall Street Zen cut HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Cantor Fitzgerald initiated coverage on shares of HCI Group in a research report on Thursday, July 9th. They issued an “overweight” rating and a $225.00 target price on the stock. Finally, Zacks Research upgraded shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $238.33.

HCI Group Trading Down 1.9%

NYSE HCI opened at $175.56 on Thursday. 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 firm has a market cap of $2.24 billion, a price-to-earnings ratio of 7.71 and a beta of 1.03. The firm has a 50 day simple moving average of $167.09 and a 200-day simple moving average of $162.99. HCI Group, Inc. has a one year low of $136.37 and a one year high of $210.50.

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 analysts’ consensus estimates of $5.26 by $0.19. HCI Group had a net margin of 32.64% and a return on equity of 30.88%. The company had revenue of $242.88 million for the quarter, compared to analyst estimates of $245.09 million. Equities research analysts anticipate that HCI Group, Inc. will post 18.41 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group’s dividend payout ratio (DPR) is presently 7.02%.

About HCI Group

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.