Axxcess Wealth Management LLC Grows Stock Position in HCI Group, Inc. $HCI

Axxcess Wealth Management LLC boosted its position in HCI Group, Inc. (NYSE:HCI) by 2.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,808 shares of the insurance provider’s stock after purchasing an additional 215 shares during the period. Axxcess Wealth Management LLC’s holdings in HCI Group were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Global Assets Advisory LLC purchased a new stake in HCI Group in the second quarter worth $46,000. USA Financial Formulas increased its position in HCI Group by 250.0% in the second quarter. USA Financial Formulas now owns 518 shares of the insurance provider’s stock worth $79,000 after buying an additional 370 shares during the last quarter. GAMMA Investing LLC increased its position in HCI Group by 16.6% in the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider’s stock worth $89,000 after buying an additional 85 shares during the last quarter. Russell Investments Group Ltd. increased its position in HCI Group by 825.7% in the first quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider’s stock worth $97,000 after buying an additional 578 shares during the last quarter. Finally, Simplex Trading LLC purchased a new position in shares of HCI Group in the first quarter valued at $148,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HCI has been the subject of several recent research reports. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Wall Street Zen cut HCI Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of HCI Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $181.25.

HCI Group Price Performance

NYSE:HCI opened at $201.27 on Thursday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 17.84 and a beta of 1.17. HCI Group, Inc. has a 52-week low of $105.00 and a 52-week high of $201.92. The stock has a fifty day moving average of $174.74 and a 200 day moving average of $158.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71.

HCI Group (NYSE:HCI) last posted its quarterly earnings data on Thursday, August 7th. The insurance provider reported $5.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.71. The company had revenue of $221.92 million during the quarter, compared to analyst estimates of $218.98 million. HCI Group had a return on equity of 25.84% and a net margin of 18.58%. On average, research analysts expect that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.