5,600 Shares in HCI Group, Inc. $HCI Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 5,600 HCI Group shares worth approximately $981,000 during the second quarter. Institutional investors and hedge funds collectively own 86.99% of HCI’s outstanding stock.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $241.67.
• HCI exceeded quarterly earnings expectations, reporting $5.60 in EPS versus the $5.04 estimate, and declared a quarterly dividend of $0.40, equivalent to a 0.9% annual yield.

The Manufacturers Life Insurance Company acquired a new stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,600 shares of the insurance provider's stock, valued at approximately $981,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC increased its stake in shares of HCI Group by 519.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider's stock worth $31,000 after purchasing an additional 135 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 184 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of HCI Group by 62.8% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 71 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of HCI Group in the 1st quarter valued at $46,000. Finally, Meeder Asset Management Inc. bought a new stake in HCI Group in the fourth quarter worth $79,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on HCI. Cantor Fitzgerald assumed coverage on shares of HCI Group in a research report on Thursday, July 9th. They set an "overweight" rating and a $225.00 target price on the stock. Weiss Ratings downgraded HCI Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Zacks Research lowered HCI Group from a "strong-buy" rating to a "hold" rating in a report on Friday, July 31st. Citigroup reissued a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Finally, Wall Street Zen lowered HCI Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.67.

HCI Group Stock Performance

NYSE:HCI opened at $186.35 on Friday. The firm has a market capitalization of $2.32 billion, a PE ratio of 8.03 and a beta of 1.03. HCI Group, Inc. has a 1 year low of $144.75 and a 1 year high of $210.50. 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's fifty day simple moving average is $181.80 and its 200 day simple moving average is $166.69.

HCI Group (NYSE:HCI - Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, topping analysts' consensus estimates of $5.04 by $0.56. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. The firm had revenue of $246.65 million during the quarter, compared to analyst estimates of $247.43 million. On average, sell-side analysts anticipate that HCI Group, Inc. will post 19.47 EPS for the current year.

HCI Group Dividend Announcement

The firm 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 is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. HCI Group's payout ratio is presently 6.90%.

About HCI Group

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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