Arrowstreet Capital Limited Partnership Increases Stock Position in HCI Group, Inc. $HCI

Key Points

• Arrowstreet Capital dramatically increased its HCI Group stake by 2,944% in the first quarter, acquiring 113,019 additional shares and ending with 116,858 shares worth approximately $18.1 million. Institutional investors and hedge funds collectively own 86.99% of the stock.
• HCI Group reported quarterly earnings of $5.45 per share, exceeding analyst expectations of $5.26, while revenue of $242.88 million fell slightly short of forecasts. The company posted a 30.88% return on equity and a 32.64% net margin.
• The company declared a quarterly dividend of $0.40 per share, equivalent to $1.60 annually and a 0.9% yield. Analysts maintain a consensus “Buy” rating with an average price target of $238.33, above the reported share price of $182.26.

Arrowstreet Capital Limited Partnership grew its stake in HCI Group, Inc. (NYSE:HCI - Free Report) by 2,944.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 116,858 shares of the insurance provider's stock after acquiring an additional 113,019 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.92% of HCI Group worth $18,067,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new stake in HCI Group in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of HCI Group by 519.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider's stock valued at $31,000 after buying an additional 135 shares during the period. Farther Finance Advisors LLC lifted its stake in HCI Group by 62.8% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider's stock worth $35,000 after acquiring an additional 71 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in HCI Group by 557.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 184 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in HCI Group during the first quarter worth about $46,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Stock Down 0.6%

Shares of HCI Group stock opened at $182.26 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. HCI Group, Inc. has a 52-week low of $136.37 and a 52-week high of $210.50. The company has a market capitalization of $2.33 billion, a P/E ratio of 8.00 and a beta of 1.03. The company has a 50 day moving average of $169.75 and a 200 day moving average of $163.09.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share for the quarter, beating analysts' consensus estimates of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The company had revenue of $242.88 million for the quarter, compared to analysts' expectations of $245.09 million. As a group, research analysts forecast that HCI Group, Inc. will post 18.29 EPS for the current fiscal year.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group's dividend payout ratio is currently 7.02%.

Analyst Ratings Changes

Several research analysts have recently commented on HCI shares. Weiss Ratings raised shares of HCI Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Cantor Fitzgerald began coverage on shares of HCI Group in a research report on Thursday, July 9th. They issued an "overweight" rating and a $225.00 price target for the company. Finally, Zacks Research upgraded shares of HCI Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, HCI Group presently has a consensus rating of "Buy" and a consensus price target of $238.33.

HCI Group Company 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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