Jacobs Levy Equity Management Inc. Raises Stock Position in HCI Group, Inc. $HCI

Key Points

• Jacobs Levy Equity Management Inc. has increased its stake in HCI Group, Inc. by 69.7% during the first quarter, owning 3,718 shares valued at approximately $555,000.
• Several analysts have raised their price targets for HCI Group, with Compass Point increasing its target from $148.00 to $205.00 and JMP Securities from $210.00 to $225.00, indicating a positive market outlook.
• HCI Group reported a net margin of 18.58% and a quarterly earnings per share (EPS) of $5.18, which exceeded analyst expectations of $4.47.

Jacobs Levy Equity Management Inc. boosted its holdings in HCI Group, Inc. (NYSE:HCI - Free Report) by 69.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,718 shares of the insurance provider's stock after buying an additional 1,527 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in HCI Group were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in HCI Group by 168.8% in the first quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider's stock worth $67,569,000 after acquiring an additional 284,315 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of HCI Group by 17,305.3% during the first quarter. GAMMA Investing LLC now owns 88,941 shares of the insurance provider's stock valued at $132,730,000 after acquiring an additional 88,430 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in HCI Group during the 4th quarter valued at approximately $3,526,000. Informed Momentum Co LLC bought a new stake in HCI Group during the 1st quarter valued at approximately $4,068,000. Finally, Kingdon Capital Management L.L.C. purchased a new stake in HCI Group in the first quarter worth about $3,880,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

HCI Group Trading Up 2.4%

Shares of HCI stock traded up $4.30 during trading hours on Thursday, reaching $185.09. 131,995 shares of the stock were exchanged, compared to its average volume of 125,375. HCI Group, Inc. has a 12-month low of $91.06 and a 12-month high of $185.80. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02. The company's 50-day moving average price is $156.34 and its 200-day moving average price is $151.78. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 16.41 and a beta of 1.18.

HCI Group (NYSE:HCI - Get Free Report) last released 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 firm 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%. As a group, equities analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. HCI Group's dividend payout ratio (DPR) is currently 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.