Ieq Capital LLC Makes New Investment in HCI Group, Inc. $HCI

Ieq Capital LLC acquired a new stake in HCI Group, Inc. (NYSE:HCI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,218 shares of the insurance provider’s stock, valued at approximately $1,440,000.

A number of other hedge funds have also made changes to their positions in HCI. BlackRock Inc. bought a new stake in HCI Group during the second quarter worth approximately $323,098,000. Freestone Grove Partners LP increased its position in shares of HCI Group by 353.6% during the 4th quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock valued at $52,735,000 after purchasing an additional 214,464 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of HCI Group by 2,944.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock valued at $18,067,000 after purchasing an additional 113,019 shares during the period. Danske Bank A S bought a new stake in shares of HCI Group in the 3rd quarter worth $19,256,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of HCI Group in the 2nd quarter worth $13,805,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Price Performance

Shares of NYSE:HCI opened at $187.37 on Thursday. The company has a market capitalization of $2.33 billion, a PE ratio of 8.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a fifty day moving average of $179.55 and a 200-day moving average of $165.49. HCI Group, Inc. has a one year low of $144.75 and a one year high of $210.50.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.56. The business had revenue of $246.65 million for the quarter, compared to analysts’ expectations of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. As a group, equities analysts anticipate that HCI Group, Inc. will post 19.47 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be paid 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 yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is currently 6.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HCI. Citigroup restated a “market outperform” rating on shares of HCI Group in a report on Friday, August 7th. Zacks Research cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Cantor Fitzgerald started coverage on shares of HCI Group in a research report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price objective for the company. Finally, Wall Street Zen lowered shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.67.

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.