Amundi Boosts Stock Holdings in HCI Group, Inc. $HCI

Key Points

• Amundi dramatically increased its stake in HCI Group, raising it by 8,320.5% during the 1st quarter to a total of 25,514 shares, valued at approximately $3.78 million.
• HCI Group's stock was upgraded by Compass Point from "neutral" to "buy," with a price target hike from $148.00 to $205.00, reflecting positive momentum among analysts.
• HCI Group announced a quarterly dividend of $0.40 per share, offering an annualized yield of 0.9%, with the ex-dividend date set for August 15th.

Amundi boosted its position in HCI Group, Inc. (NYSE:HCI - Free Report) by 8,320.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,514 shares of the insurance provider's stock after buying an additional 25,211 shares during the period. Amundi owned approximately 0.24% of HCI Group worth $3,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in HCI Group by 16.6% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock valued at $89,000 after purchasing an additional 85 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of HCI Group by 825.7% in the first quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider's stock valued at $97,000 after buying an additional 578 shares in the last quarter. Simplex Trading LLC purchased a new stake in shares of HCI Group in the first quarter valued at approximately $148,000. Cresset Asset Management LLC purchased a new stake in shares of HCI Group in the first quarter valued at approximately $209,000. Finally, CCG Wealth Management LLC purchased a new stake in shares of HCI Group in the first quarter valued at approximately $246,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HCI. Compass Point upgraded shares of HCI Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $148.00 to $205.00 in a research report on Friday, May 30th. Wall Street Zen downgraded shares of HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $181.25.

HCI Group Price Performance

Shares of HCI Group stock traded up $2.48 on Wednesday, hitting $180.60. The company's stock had a trading volume of 126,998 shares, compared to its average volume of 128,010. HCI Group, Inc. has a 52-week low of $91.06 and a 52-week high of $183.31. 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 firm has a fifty day moving average price of $155.44 and a 200-day moving average price of $151.47. The company has a market capitalization of $2.34 billion, a P/E ratio of 16.01 and a beta of 1.18.

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

HCI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 0.9%. The ex-dividend date of this dividend is Friday, August 15th. HCI Group's dividend payout ratio is currently 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.