Los Angeles Capital Management LLC Reduces Holdings in HCI Group, Inc. $HCI

Los Angeles Capital Management LLC cut its position in shares of HCI Group, Inc. (NYSE:HCI) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,456 shares of the insurance provider’s stock after selling 1,050 shares during the period. Los Angeles Capital Management LLC owned approximately 0.11% of HCI Group worth $1,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HCI. American Century Companies Inc. raised its holdings in shares of HCI Group by 168.8% in the first quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider’s stock worth $67,569,000 after buying an additional 284,315 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of HCI Group during the second quarter valued at $7,449,000. 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 worth $15,278,000 after purchasing an additional 45,097 shares during the last quarter. Informed Momentum Co LLC purchased a new position in HCI Group in the 1st quarter worth about $4,068,000. Finally, Kingdon Capital Management L.L.C. bought a new stake in HCI Group during the 1st quarter valued at about $3,880,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Trading Down 0.7%

Shares of NYSE:HCI opened at $187.25 on Wednesday. The business’s 50-day moving average is $189.60 and its 200 day moving average is $165.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. HCI Group, Inc. has a 1 year low of $106.03 and a 1 year high of $210.50. The firm has a market capitalization of $2.43 billion, a P/E ratio of 16.60 and a beta of 1.16.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $2.46. The business had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. HCI Group had a return on equity of 25.84% and a net margin of 18.58%. On average, research analysts predict that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. HCI Group’s payout ratio is 10.22%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HCI. Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Truist Financial increased their price objective on HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of HCI Group in a report on Wednesday, October 8th. Finally, Citizens Jmp increased their price target on HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a research report on Monday. One 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, HCI Group presently has a consensus rating of “Buy” and a consensus target price of $230.00.

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.