Connor Clark & Lunn Investment Management Ltd. Invests $1.66 Million in HCI Group, Inc. $HCI

Key Points

• Connor Clark & Lunn Investment Management purchased 9,483 HCI Group shares worth approximately $1.66 million, taking a 0.08% stake. Institutional investors collectively own 86.99% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds; HCI has a consensus rating of “Moderate Buy” and an average price target of $241.67.
• HCI reported quarterly EPS of $5.60, beating estimates of $5.04, and declared a quarterly dividend of $0.40, equivalent to a 0.9% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 9,483 shares of the insurance provider's stock, valued at approximately $1,662,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of HCI Group as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of HCI Group by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider's stock worth $160,947,000 after purchasing an additional 32,167 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in HCI Group during the 2nd quarter valued at approximately $2,777,000. Intech Investment Management LLC grew its stake in HCI Group by 934.5% during the 4th quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider's stock worth $8,484,000 after buying an additional 39,979 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in HCI Group during the 1st quarter worth $2,302,000. Finally, Arrowstreet Capital Limited Partnership increased its position in HCI Group by 2,944.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider's stock worth $18,067,000 after buying an additional 113,019 shares during the period. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HCI shares. Cantor Fitzgerald began coverage on shares of HCI Group in a report on Thursday, July 9th. They set an "overweight" rating and a $225.00 price target for the company. Citizens Jmp increased their price objective on shares of HCI Group from $255.00 to $265.00 and gave the stock 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 report on Friday, August 7th. Weiss Ratings lowered shares of HCI Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen cut shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.67.

HCI Group Price Performance

Shares of NYSE HCI opened at $186.20 on Friday. 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 simple moving average is $180.44 and its 200 day simple moving average is $165.79. 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 $2.32 billion, a P/E ratio of 8.03 and a beta of 1.04.

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

HCI Group Announces Dividend

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

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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