Bridgewater Advisors Inc. Takes Position in HCI Group, Inc. (NYSE:HCI)

Bridgewater Advisors Inc. purchased a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,477 shares of the insurance provider's stock, valued at approximately $361,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of HCI Group by 16.6% in the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock valued at $89,000 after buying an additional 85 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of HCI Group by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider's stock valued at $9,202,000 after purchasing an additional 1,332 shares in the last quarter. Bank of America Corp DE grew its stake in HCI Group by 208.3% during the fourth quarter. Bank of America Corp DE now owns 36,863 shares of the insurance provider's stock worth $4,296,000 after buying an additional 24,907 shares during the last quarter. Northern Trust Corp increased its stake in HCI Group by 9.1% in the fourth quarter. Northern Trust Corp now owns 88,230 shares of the insurance provider's stock valued at $10,281,000 after purchasing an additional 7,349 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in HCI Group by 93.0% in the fourth quarter. Invesco Ltd. now owns 113,710 shares of the insurance provider's stock valued at $13,251,000 after acquiring an additional 54,803 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Price Performance

HCI Group stock traded down $0.60 during trading on Friday, reaching $143.43. The company had a trading volume of 162,538 shares, compared to its average volume of 140,450. The firm's 50-day simple moving average is $154.99 and its 200 day simple moving average is $140.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $1.66 billion, a PE ratio of 13.87 and a beta of 1.21. HCI Group, Inc. has a 1-year low of $87.01 and a 1-year high of $176.40.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The insurance provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.86. HCI Group had a return on equity of 27.69% and a net margin of 17.38%. The firm had revenue of $216.43 million during the quarter, compared to analysts' expectations of $214.89 million. As a group, equities research analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.12%. HCI Group's payout ratio is presently 15.47%.

Wall Street Analyst Weigh In

HCI has been the topic of several recent analyst reports. JMP Securities raised their target price on shares of HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, May 19th. Compass Point raised HCI Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $148.00 to $205.00 in a research note on Friday, May 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.