Pictet Asset Management Holding SA Reduces Stake in HCI Group, Inc. $HCI

Pictet Asset Management Holding SA reduced its stake in shares of HCI Group, Inc. (NYSE:HCI) by 62.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HCI. Farther Finance Advisors LLC raised its holdings in shares of HCI Group by 62.8% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 71 shares during the period. NDVR Inc. lifted its stake in HCI Group by 7.0% in the fourth quarter. NDVR Inc. now owns 1,236 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 81 shares during the last quarter. Captrust Financial Advisors grew its holdings in HCI Group by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 4,711 shares of the insurance provider’s stock valued at $903,000 after purchasing an additional 91 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in HCI Group by 2.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,794 shares of the insurance provider’s stock worth $920,000 after buying an additional 94 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in HCI Group by 0.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,253 shares of the insurance provider’s stock worth $2,157,000 after buying an additional 98 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

HCI Group Stock Up 0.0%

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

HCI Group (NYSE:HCI) last released its quarterly earnings data on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share for the quarter, beating 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 business had revenue of $242.88 million during the quarter, compared to analyst estimates of $245.09 million. On average, sell-side analysts expect that HCI Group, Inc. will post 18.41 EPS for the current year.

HCI Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on HCI shares. Wall Street Zen cut HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Weiss Ratings raised HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Cantor Fitzgerald started coverage on HCI Group in a research note on Thursday. They issued an “overweight” rating and a $225.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus 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.