Bessemer Group Inc. Reduces Stake in HCI Group, Inc. $HCI

Key Points

• Bessemer Group Inc. cut its stake in HCI Group by 36.9% in the first quarter, selling 6,600 shares and ending with 11,293 shares valued at about $1.745 million.
• HCI Group reported strong quarterly earnings, posting $5.45 EPS versus $5.26 expected, while revenue came in slightly below estimates at $242.88 million.
• The company announced a quarterly dividend of $0.40 per share, and analysts currently rate the stock a consensus Buy with a target price of $238.33.

Bessemer Group Inc. lowered its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,293 shares of the insurance provider's stock after selling 6,600 shares during the quarter. Bessemer Group Inc. owned 0.09% of HCI Group worth $1,745,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in shares of HCI Group in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC lifted its stake in HCI Group by 519.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 161 shares of the insurance provider's stock worth $31,000 after acquiring an additional 135 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of HCI Group by 62.8% during the fourth 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 during the period. Finally, Global Assets Advisory LLC bought a new stake in HCI Group during the first quarter valued at about $46,000. 86.99% of the stock is currently owned by institutional investors.

HCI Group Stock Performance

NYSE HCI opened at $175.56 on Thursday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 7.71 and a beta of 1.03. The stock has a 50-day simple moving average of $167.09 and a two-hundred day simple moving average of $162.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82. HCI Group, Inc. has a fifty-two week low of $136.37 and a fifty-two week high of $210.50.

HCI Group (NYSE:HCI - Get Free Report) last announced its earnings results on Wednesday, May 6th. The insurance provider reported $5.45 EPS 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 business had revenue of $242.88 million during the quarter, compared to analysts' expectations of $245.09 million. On average, equities analysts forecast that HCI Group, Inc. will post 18.41 earnings per share for the current 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 given 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 payout ratio is presently 7.02%.

Analysts Set New Price Targets

HCI has been the topic of a number of recent analyst reports. Zacks Research raised HCI Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 2nd. Cantor Fitzgerald initiated coverage on HCI Group in a research report on Thursday, July 9th. They issued an "overweight" rating and a $225.00 price objective for the company. Weiss Ratings upgraded HCI Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered HCI Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $238.33.

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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