Great Lakes Advisors LLC purchased a new stake in HCI Group, Inc. (NYSE:HCI – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 6,006 shares of the insurance provider’s stock, valued at approximately $1,053,000.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in HCI Group during the second quarter worth $323,098,000. Freestone Grove Partners LP grew its holdings in HCI Group by 353.6% in the 4th quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock valued at $52,735,000 after buying an additional 214,464 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in HCI Group by 2,944.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock valued at $18,067,000 after buying an additional 113,019 shares in the last quarter. Danske Bank A S acquired a new stake in shares of HCI Group in the 3rd quarter worth $19,256,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of HCI Group in the 2nd quarter worth $13,805,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.
HCI Group Price Performance
Shares of HCI opened at $182.09 on Friday. The firm has a 50-day simple moving average of $178.21 and a two-hundred day simple moving average of $164.83. The stock has a market cap of $2.27 billion, a PE ratio of 7.85 and a beta of 1.04. HCI Group, Inc. has a 1-year low of $144.75 and a 1-year high of $210.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69.
HCI Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group’s dividend payout ratio is 6.90%.
Wall Street Analyst Weigh In
HCI has been the topic of several recent research reports. Weiss Ratings cut shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Citizens Jmp raised their price objective on shares of HCI Group from $255.00 to $265.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Wall Street Zen lowered shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Zacks Research cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.67.
View Our Latest Stock Report on HCI
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.
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