American Century Companies Inc. Raises Holdings in HCI Group, Inc. $HCI

Key Points

• American Century Companies Inc. increased its stake in HCI Group, Inc. by 168.8% after acquiring 284,315 shares, bringing its total ownership to approximately 4.21% of the company, valued at around $67.57 million.
• Multiple analysts have revised their ratings on HCI Group, with Wall Street Zen upgrading it to a strong-buy and a price target increase from $148.00 to $205.00 by Compass Point.
• HCI Group reported $5.18 earnings per share, exceeding estimates, and announced a quarterly dividend of $0.40 per share, equating to an annualized yield of 1.0%.

American Century Companies Inc. raised its holdings in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 168.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 452,781 shares of the insurance provider's stock after acquiring an additional 284,315 shares during the quarter. American Century Companies Inc. owned approximately 4.21% of HCI Group worth $67,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in HCI. Khrom Capital Management LLC lifted its holdings in shares of HCI Group by 20.7% in the 4th quarter. Khrom Capital Management LLC now owns 796,170 shares of the insurance provider's stock valued at $92,778,000 after purchasing an additional 136,642 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of HCI Group by 15.7% in the 4th quarter. Hood River Capital Management LLC now owns 940,000 shares of the insurance provider's stock valued at $109,538,000 after purchasing an additional 127,332 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of HCI Group by 2,878.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider's stock valued at $13,365,000 after purchasing an additional 110,838 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of HCI Group by 17,305.3% in the 1st quarter. GAMMA Investing LLC now owns 88,941 shares of the insurance provider's stock valued at $132,730,000 after purchasing an additional 88,430 shares during the last quarter. Finally, Park West Asset Management LLC purchased a new stake in shares of HCI Group in the 4th quarter valued at about $7,499,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JMP Securities boosted their target price on HCI Group from $210.00 to $225.00 and gave the company a "market outperform" rating in a report on Monday, May 19th. Wall Street Zen downgraded HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, Compass Point raised HCI Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $148.00 to $205.00 in a report on Friday, May 30th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $181.25.

HCI Group Stock Performance

HCI traded up $1.97 on Friday, hitting $165.44. 124,195 shares of the company traded hands, compared to its average volume of 149,915. The company has a 50 day moving average of $146.77 and a 200-day moving average of $145.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.14 billion, a PE ratio of 14.67 and a beta of 1.24. HCI Group, Inc. has a 12-month low of $90.05 and a 12-month high of $176.40.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The insurance provider reported $5.18 EPS for the quarter, beating the consensus estimate of $4.47 by $0.71. The firm had revenue of $221.92 million during the quarter, compared to the consensus estimate of $218.98 million. HCI Group had a return on equity of 25.84% and a net margin of 18.58%. Sell-side analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. HCI Group's dividend payout ratio is 14.18%.

HCI Group Company Profile

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.