Exchange Traded Concepts LLC Buys 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 raised its stake in HCI Group, Inc. (NYSE:HCI - Free Report) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,232 shares of the insurance provider's stock after purchasing an additional 3,802 shares during the period. Exchange Traded Concepts LLC owned 0.23% of HCI Group worth $3,993,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of HCI Group by 16.6% during the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock worth $89,000 after acquiring an additional 85 shares during the last quarter. Russell Investments Group Ltd. grew its position in HCI Group by 825.7% in the 1st quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider's stock valued at $97,000 after buying an additional 578 shares during the last quarter. Simplex Trading LLC purchased a new position in HCI Group in the 1st quarter valued at $148,000. Cresset Asset Management LLC purchased a new position in HCI Group in the 1st quarter valued at $209,000. Finally, Hancock Whitney Corp purchased a new position in 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.

HCI Group Stock Performance

HCI traded down $3.71 during trading hours on Friday, hitting $181.53. 722,719 shares of the stock were exchanged, compared to its average volume of 156,515. HCI Group, Inc. has a 12 month low of $91.06 and a 12 month high of $186.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day simple moving average of $157.20 and a 200-day simple moving average of $152.33. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 16.09 and a beta of 1.18.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The insurance provider reported $5.18 EPS for the quarter, beating analysts' consensus estimates of $4.47 by $0.71. HCI Group had a return on equity of 25.84% and a net margin of 18.58%.The company had revenue of $221.92 million for the quarter, compared to analyst estimates of $218.98 million. Analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 15th. HCI Group's payout ratio is currently 14.18%.

Wall Street Analysts Forecast Growth

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