Walleye Capital LLC Buys New Position in HCI Group, Inc. $HCI

Walleye Capital LLC bought a new stake in HCI Group, Inc. (NYSE:HCI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 7,515 shares of the insurance provider’s stock, valued at approximately $1,317,000.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HCI. Cantor Fitzgerald assumed coverage on shares of HCI Group in a report on Thursday, July 9th. They set an “overweight” rating and a $225.00 target price on the stock. Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Zacks Research lowered HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Finally, Citizens Jmp lifted their target price on HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, HCI Group has a consensus rating of “Moderate Buy” and an average target price of $241.67.

HCI Group Stock Down 0.7%

HCI stock opened at $184.97 on Friday. The company’s 50 day moving average price is $175.82 and its 200 day moving average price is $163.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.69. HCI Group, Inc. has a fifty-two week low of $144.75 and a fifty-two week high of $210.50. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 7.97 and a beta of 1.04.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.56. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. The firm had revenue of $246.65 million for the quarter, compared to analysts’ expectations of $247.43 million. On average, equities research analysts anticipate that HCI Group, Inc. will post 19.02 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. HCI Group’s dividend payout ratio is currently 6.90%.

HCI Group 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.