Wellington Management Group LLP Increases Position in HCI Group, Inc. $HCI

Key Points

• Wellington Management Group LLP increased its stake in HCI Group, Inc. by 13.3%, owning 1.63% of the company, valued at $26.17 million as of the latest SEC filing.
• HCI Group reported an EPS of $5.18, surpassing analysts' expectations, and achieved a return on equity of 25.84% with a net margin of 18.58%.
• A quarterly dividend of $0.40 per share will be paid on September 19th, offering investors a yield of 1.0%.

Wellington Management Group LLP increased its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 13.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,376 shares of the insurance provider's stock after buying an additional 20,537 shares during the period. Wellington Management Group LLP owned about 1.63% of HCI Group worth $26,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Simplex Trading LLC purchased a new stake in HCI Group during the first quarter worth about $148,000. GAMMA Investing LLC boosted its holdings in 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 buying an additional 85 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in HCI Group by 2.2% during the first quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider's stock worth $9,202,000 after buying an additional 1,332 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in HCI Group by 6.7% during the first quarter. Victory Capital Management Inc. now owns 22,897 shares of the insurance provider's stock worth $3,417,000 after buying an additional 1,443 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

HCI Group Price Performance

HCI traded up $0.10 during midday trading on Thursday, reaching $163.89. 100,308 shares of the company's stock were exchanged, compared to its average volume of 134,637. 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 market capitalization of $2.12 billion, a PE ratio of 14.53 and a beta of 1.24. The business's 50-day moving average price is $147.43 and its 200 day moving average price is $145.96. HCI Group, Inc. has a 1-year low of $91.06 and a 1-year high of $176.40.

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

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. HCI Group's dividend payout ratio is presently 14.18%.

Analysts Set New Price Targets

HCI has been the topic of a number of research analyst reports. Compass Point raised shares of HCI Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $148.00 to $205.00 in a report on Friday, May 30th. Wall Street Zen cut shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, JMP Securities lifted their target price on shares of HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, May 19th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $181.25.

About HCI Group

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.