HCI Group, Inc. (NYSE:HCI) Holdings Cut by Essex Investment Management Co. LLC

Key Points

• Essex Investment Management Co. LLC reduced its holdings in HCI Group by 5.4%, owning 77,870 shares after selling 4,465 shares during the first quarter.
• HCI Group reported a better-than-expected EPS of $5.35 for the quarter, surpassing analysts' estimates of $4.49, with a revenue of $216.43 million.
• The company announced a quarterly dividend of $0.40 per share, scheduled for payment on September 19th, representing a dividend yield of 1.16%.

Essex Investment Management Co. LLC cut its position in HCI Group, Inc. (NYSE:HCI - Free Report) by 5.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,870 shares of the insurance provider's stock after selling 4,465 shares during the quarter. HCI Group accounts for about 2.4% of Essex Investment Management Co. LLC's portfolio, making the stock its largest holding. Essex Investment Management Co. LLC owned about 0.72% of HCI Group worth $11,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in HCI Group by 16.6% during the 1st 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. KLP Kapitalforvaltning AS bought a new stake in HCI Group during the 4th quarter worth approximately $175,000. CCG Wealth Management LLC bought a new stake in HCI Group during the 1st quarter worth approximately $246,000. Cerity Partners LLC bought a new stake in HCI Group during the 1st quarter worth approximately $274,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in HCI Group during the 4th quarter worth approximately $255,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HCI has been the topic of a number of recent analyst reports. JMP Securities boosted their price target 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. Compass Point upgraded shares of HCI Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $148.00 to $205.00 in a research report on Friday, May 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $181.25.

HCI Group Stock Performance

HCI traded down $1.26 during trading on Friday, hitting $138.78. 76,180 shares of the company traded hands, compared to its average volume of 132,680. The firm has a market cap of $1.60 billion, a P/E ratio of 13.46 and a beta of 1.21. The stock's fifty day moving average is $150.64 and its 200 day moving average is $141.89. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.34. HCI Group, Inc. has a one year low of $87.00 and a one year high of $176.40.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The insurance provider reported $5.35 EPS for the quarter, beating the consensus estimate of $4.49 by $0.86. The business had revenue of $216.43 million for the quarter, compared to the consensus estimate of $214.89 million. HCI Group had a net margin of 17.38% and a return on equity of 27.69%. As a group, equities analysts predict that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued 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 yield of 1.2%. HCI Group's dividend payout ratio is 15.47%.

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.