BlackRock Inc. Takes Position in HCI Group, Inc. $HCI

Key Points

• BlackRock acquired 1.84 million HCI Group shares worth approximately $323.1 million, giving it a 14.44% stake. Overall, institutional investors and hedge funds own 86.99% of the insurer.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $241.67; individual targets include $225 and $265.
• HCI Group’s latest quarterly earnings beat expectations, reporting $5.60 in EPS versus a $5.04 estimate. The company also declared a quarterly dividend of $0.40 per share, representing a 0.9% yield.

BlackRock Inc. purchased a new position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,843,638 shares of the insurance provider's stock, valued at approximately $323,098,000. BlackRock Inc. owned 14.44% of HCI Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Deutsche Bank AG acquired a new position in HCI Group in the second quarter valued at about $2,159,000. Global Retirement Partners LLC purchased a new stake in shares of HCI Group in the 2nd quarter valued at approximately $148,000. Bank of New York Mellon Corp acquired a new position in shares of HCI Group in the 2nd quarter worth approximately $13,805,000. State of Wyoming acquired a new position in shares of HCI Group in the 2nd quarter worth approximately $82,000. Finally, GSA Capital Partners LLP purchased a new position in shares of HCI Group during the 2nd quarter worth approximately $870,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on HCI shares. Weiss Ratings lowered HCI Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald began coverage on HCI Group in a report on Thursday, July 9th. They issued an "overweight" rating and a $225.00 price objective on the stock. Citizens Jmp raised their target price on HCI Group from $255.00 to $265.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Citigroup reiterated a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Finally, Zacks Research lowered shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $241.67.

HCI Group Stock Up 0.9%

Shares of NYSE:HCI opened at $187.37 on Thursday. HCI Group, Inc. has a fifty-two week low of $144.75 and a fifty-two week high of $210.50. The firm's 50 day moving average price is $179.55 and its 200 day moving average price is $165.49. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 8.08 and a beta of 1.04.

HCI Group (NYSE:HCI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, beating analysts' consensus estimates of $5.04 by $0.56. The company had revenue of $246.65 million for the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. As a group, equities research analysts predict that HCI Group, Inc. will post 19.47 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. HCI Group's dividend payout ratio is currently 6.90%.

HCI Group 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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