Exchange Traded Concepts LLC Purchases 3,802 Shares of HCI Group, Inc. $HCI

Key Points

• Exchange Traded Concepts LLC increased its stake in HCI Group, Inc. by 17.0% during the second quarter, owning approximately 0.23% of the company valued at $3,993,000.
• HCI Group reported earnings of $5.18 per share in its latest quarterly results, surpassing estimates by $0.71 and achieving a revenue of $221.92 million.
• The company declared a quarterly dividend of $0.40 per share, with a current annualized dividend yield of 0.9%.

Exchange Traded Concepts LLC grew its holdings in HCI Group, Inc. (NYSE:HCI - Free Report) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,232 shares of the insurance provider's stock after purchasing an additional 3,802 shares during the quarter. Exchange Traded Concepts LLC owned about 0.23% of HCI Group worth $3,993,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. grew its position in HCI Group by 168.8% during the first quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider's stock worth $67,569,000 after buying an additional 284,315 shares in the last quarter. Wellington Management Group LLP raised its position in HCI Group by 13.3% in the 1st quarter. Wellington Management Group LLP now owns 175,376 shares of the insurance provider's stock worth $26,171,000 after purchasing an additional 20,537 shares during the last quarter. Millennium Management LLC raised its position in HCI Group by 78.7% in the 1st quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock worth $15,278,000 after purchasing an additional 45,097 shares during the last quarter. Northern Trust Corp grew its holdings in HCI Group by 3.3% during the 1st quarter. Northern Trust Corp now owns 91,127 shares of the insurance provider's stock worth $13,599,000 after acquiring an additional 2,897 shares during the period. Finally, GAMMA Investing LLC grew its holdings in HCI Group by 17,305.3% during the 1st quarter. GAMMA Investing LLC now owns 88,941 shares of the insurance provider's stock worth $132,730,000 after acquiring an additional 88,430 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on HCI. Compass Point raised shares of HCI Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $148.00 to $205.00 in a research report on Friday, May 30th. Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, HCI Group presently has a consensus rating of "Buy" and an average price target of $181.25.

HCI Group Trading Down 0.4%

NYSE HCI traded down $0.78 during mid-day trading on Tuesday, reaching $184.85. 41,159 shares of the stock were exchanged, compared to its average volume of 137,927. HCI Group, Inc. has a one year low of $91.06 and a one year high of $186.81. The stock has a 50 day simple moving average of $158.07 and a 200-day simple moving average of $152.67. The stock has a market cap of $2.40 billion, a P/E ratio of 16.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The insurance provider reported $5.18 EPS for the quarter, topping analysts' consensus estimates of $4.47 by $0.71. The business had revenue of $221.92 million during 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, analysts anticipate that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

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

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.