Invesco Ltd. Cuts Stock Position in HCI Group, Inc. $HCI

Key Points

• Invesco Ltd. reduced its stake in HCI Group by 29.8%, selling 33,914 shares, leaving it with 79,796 shares valued at approximately $11.9 million.
• HCI Group reported earnings per share of $5.18, exceeding analysts' expectations by $0.71, with a net margin of 18.58% and revenue of $221.92 million.
• The company announced a quarterly dividend of $0.40 per share, with a yield of 1.0%, scheduled to be paid on September 19th.

Invesco Ltd. cut its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 29.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,796 shares of the insurance provider's stock after selling 33,914 shares during the period. Invesco Ltd. owned 0.74% of HCI Group worth $11,908,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in HCI Group by 16.6% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock valued at $89,000 after acquiring an additional 85 shares during the period. Simplex Trading LLC bought a new position in HCI Group in the 1st quarter valued at approximately $148,000. CCG Wealth Management LLC bought a new position in HCI Group in the 1st quarter valued at approximately $246,000. Jacobs Levy Equity Management Inc. bought a new position in shares of HCI Group during the fourth quarter valued at $255,000. Finally, Cerity Partners LLC bought a new position in shares of HCI Group during the first quarter valued at $274,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Trading Up 1.1%

NYSE:HCI traded up $1.74 during midday trading on Thursday, reaching $165.53. 25,783 shares of the stock traded hands, compared to its average volume of 134,173. The company has a fifty day moving average of $147.43 and a 200 day moving average of $145.96. HCI Group, Inc. has a 12 month low of $91.06 and a 12 month high of $176.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $2.15 billion, a P/E ratio of 14.67 and a beta of 1.24.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The insurance provider reported $5.18 EPS for the quarter, topping the consensus estimate of $4.47 by $0.71. The business had revenue of $221.92 million during the quarter, compared to analyst estimates of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. On average, research analysts predict that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. HCI Group's dividend payout ratio (DPR) is presently 14.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. 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 note on Monday, May 19th. Compass Point upgraded shares of HCI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $148.00 to $205.00 in a report on Friday, May 30th. Finally, Wall Street Zen cut shares of HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $181.25.

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.