15,845 Shares in HCI Group, Inc. $HCI Purchased by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management purchased 15,845 HCI Group shares worth approximately $2.78 million, joining other institutional investors that increased their positions. Institutions now own 86.99% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $241.67.
• HCI Group reported quarterly EPS of $5.60, beating estimates by $0.56, and declared a quarterly dividend of $0.40 per share, equivalent to a 0.9% annualized yield.

Meeder Asset Management Inc. purchased a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,845 shares of the insurance provider's stock, valued at approximately $2,777,000. Meeder Asset Management Inc. owned 0.12% of HCI Group as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in HCI Group by 5.5% in the 1st quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider's stock valued at $2,093,000 after purchasing an additional 727 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in HCI Group by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider's stock valued at $736,000 after buying an additional 228 shares in the last quarter. Millennium Management LLC increased its position in HCI Group by 78.7% during the 1st quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock worth $15,278,000 after buying an additional 45,097 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of HCI Group by 115.9% during the second quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider's stock worth $213,000 after buying an additional 751 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of HCI Group by 557.6% during the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock worth $33,000 after buying an additional 184 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on HCI shares. Citigroup restated a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Citizens Jmp boosted their price objective on shares of HCI Group from $255.00 to $265.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Cantor Fitzgerald assumed coverage on shares of HCI Group in a report on Thursday, July 9th. They set an "overweight" rating and a $225.00 target price on the stock. Finally, Zacks Research downgraded HCI Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $241.67.

HCI Group Stock Up 1.2%

Shares of NYSE:HCI opened at $184.84 on Wednesday. HCI Group, Inc. has a 52-week low of $144.75 and a 52-week high of $210.50. The company has a market capitalization of $2.30 billion, a PE ratio of 7.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The company has a fifty day moving average of $176.94 and a 200-day moving average of $164.38.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data 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 company 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, equities analysts predict that HCI Group, Inc. will post 19.47 EPS 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. Stockholders of record on Friday, August 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. HCI Group's dividend 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.

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