Counterpoint Mutual Funds LLC Purchases Shares of 2,691 HCI Group, Inc. $HCI

Key Points

• Counterpoint Mutual Funds LLC has acquired 2,691 shares of HCI Group, Inc. valued at approximately $410,000 during the 2nd quarter, indicating growing institutional interest in the insurance provider.
• HCI Group, Inc. recently reported an earnings per share (EPS) of $5.18, significantly exceeding analysts' expectations of $4.47, along with a revenue of $221.92 million for the quarter.
• Analysts have upgraded HCI Group's stock from a "neutral" to a "buy" rating, raising the target price from $148.00 to $205.00, reflecting positive sentiment towards the company's performance.

Counterpoint Mutual Funds LLC purchased a new position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,691 shares of the insurance provider's stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of HCI Group by 16.6% during 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. Russell Investments Group Ltd. grew its position in HCI Group by 825.7% during the first quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider's stock valued at $97,000 after acquiring an additional 578 shares during the last quarter. Simplex Trading LLC purchased a new position in shares of HCI Group during the first quarter worth approximately $148,000. Cresset Asset Management LLC bought a new stake in shares of HCI Group in the 1st quarter worth approximately $209,000. Finally, Hancock Whitney Corp purchased a new stake in shares of HCI Group in the 1st quarter valued at $218,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HCI shares. Compass Point upgraded shares of HCI Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $148.00 to $205.00 in a research report on Friday, May 30th. Wall Street Zen cut HCI Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $181.25.

HCI Group Trading Down 1.7%

Shares of HCI opened at $182.39 on Wednesday. The stock has a market capitalization of $2.36 billion, a P/E ratio of 16.17 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $158.89 and a two-hundred day simple moving average of $152.88. HCI Group, Inc. has a twelve month low of $91.06 and a twelve month high of $186.81.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The insurance provider reported $5.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.47 by $0.71. The firm had revenue of $221.92 million for the quarter, compared to analysts' expectations of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. On average, research analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group's dividend payout ratio is presently 14.18%.

HCI Group 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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