26,531 Shares in HCI Group, Inc. $HCI Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in HCI Group, Inc. (NYSE:HCI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 26,531 shares of the insurance provider’s stock, valued at approximately $4,650,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HCI. Vanguard Group Inc. increased its holdings in HCI Group by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock valued at $160,947,000 after buying an additional 32,167 shares during the last quarter. Intech Investment Management LLC lifted its holdings in HCI Group by 934.5% during the 4th quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider’s stock worth $8,484,000 after buying an additional 39,979 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in HCI Group during the 2nd quarter worth about $2,777,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HCI Group during the 1st quarter worth about $2,302,000. Finally, Moran Wealth Management LLC boosted its position in shares of HCI Group by 120.9% during the 1st quarter. Moran Wealth Management LLC now owns 31,898 shares of the insurance provider’s stock worth $4,932,000 after acquiring an additional 17,461 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HCI shares. Citizens Jmp boosted their target price on HCI Group from $255.00 to $265.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Zacks Research cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. 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. Wall Street Zen cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $241.67.

HCI Group Stock Up 1.3%

HCI Group stock opened at $189.76 on Friday. The stock has a 50 day moving average of $181.68 and a two-hundred day moving average of $166.55. HCI Group, Inc. has a twelve month low of $144.75 and a twelve month high of $210.50. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 8.18 and a beta of 1.03. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03.

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

HCI Group Announces Dividend

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 21st. HCI Group’s 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.