Pictet Asset Management Holding SA Sells 3,027 Shares of HCI Group, Inc. $HCI

Pictet Asset Management Holding SA lowered its stake in shares of HCI Group, Inc. (NYSE:HCI) by 62.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,815 shares of the insurance provider’s stock after selling 3,027 shares during the period. Pictet Asset Management Holding SA’s holdings in HCI Group were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HCI. Sterling Capital Management LLC lifted its holdings in shares of HCI Group by 2,001.4% in the first quarter. Sterling Capital Management LLC now owns 1,450 shares of the insurance provider’s stock valued at $224,000 after purchasing an additional 1,381 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in HCI Group during the first quarter worth $742,000. Kestra Private Wealth Services LLC bought a new stake in HCI Group during the first quarter worth $479,000. SG Americas Securities LLC raised its position in HCI Group by 82.2% in the 1st quarter. SG Americas Securities LLC now owns 8,968 shares of the insurance provider’s stock valued at $1,387,000 after buying an additional 4,045 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in HCI Group by 909.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 646 shares of the insurance provider’s stock valued at $124,000 after buying an additional 582 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

HCI Group Stock Performance

HCI stock opened at $182.66 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.33 billion, a PE ratio of 8.02 and a beta of 1.03. The business has a 50 day moving average of $163.02 and a 200-day moving average of $163.80. HCI Group, Inc. has a 12-month low of $136.37 and a 12-month high of $210.50.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The business had revenue of $242.88 million for the quarter, compared to analyst estimates of $245.09 million. As a group, sell-side analysts expect that HCI Group, Inc. will post 18.41 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be given 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 dividend yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is currently 7.02%.

Analyst Ratings Changes

HCI has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of HCI Group in a report on Thursday. They set an “overweight” rating and a $225.00 price objective on the stock. Weiss Ratings upgraded shares of HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, HCI Group currently has an average rating of “Buy” and a consensus target price of $238.33.

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.