Bernzott Capital Advisors Sells 16,165 Shares of HCI Group, Inc. $HCI

Key Points

• Bernzott Capital Advisors reduced its stake in HCI Group by 30%, selling 16,165 shares during the second quarter, leaving it with 37,655 shares valued at approximately $5.73 million.
• HCI Group reported strong quarterly earnings of $5.18 per share, exceeding estimates, with a net margin of 18.58% and a return on equity of 25.84%.
• The company declared a quarterly dividend of $0.40 per share to be paid on December 19th, indicating a 0.8% dividend yield.

Bernzott Capital Advisors reduced its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 30.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 37,655 shares of the insurance provider's stock after selling 16,165 shares during the quarter. HCI Group comprises approximately 2.9% of Bernzott Capital Advisors' holdings, making the stock its 21st largest holding. Bernzott Capital Advisors owned 0.33% of HCI Group worth $5,731,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of 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 during the last quarter. Principal Financial Group Inc. lifted its position in shares of HCI Group by 2.2% during the first quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider's stock worth $9,202,000 after purchasing an additional 1,332 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of HCI Group by 22.2% during the first quarter. Envestnet Asset Management Inc. now owns 8,886 shares of the insurance provider's stock valued at $1,326,000 after purchasing an additional 1,612 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of HCI Group in the first quarter worth about $1,432,000. Finally, Cerity Partners LLC bought a new position in shares of HCI Group in the first quarter worth about $274,000. 86.99% of the stock is owned by institutional investors.

HCI Group Trading Up 2.1%

NYSE:HCI opened at $200.97 on Thursday. The firm has a 50-day simple moving average of $179.28 and a 200-day simple moving average of $160.05. HCI Group, Inc. has a one year low of $105.00 and a one year high of $201.91. The firm has a market cap of $2.60 billion, a P/E ratio of 17.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $221.92 million for the quarter, compared to analyst estimates of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. Equities analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st 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 0.8%. The ex-dividend date is Friday, November 21st. HCI Group's dividend payout ratio is 14.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HCI shares. Wall Street Zen cut shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of HCI Group in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded HCI Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $181.25.

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.

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