HCI Group, Inc. $HCI Shares Sold by Invesco Ltd.

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 holdings in HCI Group, Inc. (NYSE:HCI - Free Report) by 29.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HCI. GAMMA Investing LLC boosted its position in shares of HCI Group by 16.6% in the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock worth $89,000 after purchasing an additional 85 shares during the period. Simplex Trading LLC bought a new stake in shares of HCI Group in the 1st quarter worth about $148,000. CCG Wealth Management LLC bought a new stake in shares of HCI Group in the 1st quarter worth about $246,000. Cerity Partners LLC bought a new position in shares of HCI Group during the 1st quarter valued at approximately $274,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of HCI Group during the 4th quarter valued at approximately $255,000. 86.99% of the stock is currently owned by institutional investors.

HCI Group Price Performance

Shares of HCI stock traded up $1.66 during trading hours on Friday, hitting $166.16. 123,374 shares of the company's stock were exchanged, compared to its average volume of 145,865. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.15 billion, a P/E ratio of 14.73 and a beta of 1.24. The firm has a 50 day moving average of $148.12 and a two-hundred day moving average of $146.58. HCI Group, Inc. has a fifty-two week low of $91.06 and a fifty-two week high of $176.40.

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

HCI Group Dividend Announcement

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

Analyst Upgrades and Downgrades

HCI has been the subject of a number of research analyst reports. JMP Securities raised their price target on HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Monday, May 19th. Wall Street Zen downgraded shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, 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 research note on Friday, May 30th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target 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.