Man Group plc Purchases New Shares in HCI Group, Inc. $HCI

Man Group plc acquired a new stake in HCI Group, Inc. (NYSE:HCI) in the second quarter, Holdings Channel reports. The institutional investor acquired 9,763 shares of the insurance provider’s stock, valued at approximately $1,711,000.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of HCI Group by 62.8% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 71 shares in the last quarter. NDVR Inc. increased its stake in shares of HCI Group by 7.0% in the 4th quarter. NDVR Inc. now owns 1,236 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 81 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of HCI Group by 2.0% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in HCI Group by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,794 shares of the insurance provider’s stock worth $920,000 after purchasing an additional 94 shares during the period. Finally, Illinois Municipal Retirement Fund raised its holdings in HCI Group by 1.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,011 shares of the insurance provider’s stock worth $929,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Price Performance

NYSE:HCI opened at $187.70 on Wednesday. HCI Group, Inc. has a 12 month low of $144.75 and a 12 month high of $210.50. The stock has a 50 day moving average of $181.08 and a two-hundred day moving average of $166.14. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.33 billion, a P/E ratio of 8.09 and a beta of 1.03.

HCI Group (NYSE:HCI) last released 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. The business had revenue of $246.65 million for the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. On average, analysts expect that HCI Group, Inc. will post 19.47 earnings per share 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. Investors of record on Friday, August 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. HCI Group’s dividend payout ratio is currently 6.90%.

Analysts Set New Price Targets

Several analysts have commented on HCI shares. Wall Street Zen lowered HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings lowered HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Citizens Jmp lifted their price target on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of HCI Group in a report on Friday, August 7th. Finally, Cantor Fitzgerald began 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. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.67.

HCI Group Company 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.