Legal & General Group Plc Buys Shares of 26,531 HCI Group, Inc. $HCI

Key Points

• Legal & General Group Plc initiated a position in HCI Group by purchasing 26,531 shares valued at approximately $4.65 million, representing a 0.21% stake. Institutional investors and hedge funds collectively own 86.99% of HCI’s stock.
• HCI Group reported quarterly earnings of $5.60 per share, exceeding analyst expectations of $5.04, while revenue totaled $246.65 million. Analysts expect full-year earnings of $19.47 per share.
• The company declared a quarterly dividend of $0.40 per share, equivalent to an annualized $1.60 dividend and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $241.67.

Legal & General Group Plc bought a new position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,531 shares of the insurance provider's stock, valued at approximately $4,650,000. Legal & General Group Plc owned 0.21% of HCI Group at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HCI. BlackRock Inc. purchased a new stake in shares of HCI Group in the 2nd quarter valued at approximately $323,098,000. Freestone Grove Partners LP boosted its position in shares of HCI Group by 353.6% during the 4th quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider's stock worth $52,735,000 after purchasing an additional 214,464 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in HCI Group by 2,944.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider's stock valued at $18,067,000 after purchasing an additional 113,019 shares during the last quarter. Danske Bank A S acquired a new stake in HCI Group in the 3rd quarter valued at approximately $19,256,000. Finally, Bank of New York Mellon Corp purchased a new stake in HCI Group in the second quarter valued at approximately $13,805,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Price Performance

HCI Group stock opened at $189.76 on Friday. The firm has a market cap of $2.36 billion, a PE ratio of 8.18 and a beta of 1.03. HCI Group, Inc. has a 52-week low of $144.75 and a 52-week high of $210.50. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.03. The company's 50 day moving average is $181.68 and its two-hundred day moving average is $166.55.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, topping the consensus estimate of $5.04 by $0.56. The business had revenue of $246.65 million during the quarter, compared to the consensus estimate of $247.43 million. HCI Group had a net margin of 32.60% and a return on equity of 28.80%. On average, research analysts expect that HCI Group, Inc. will post 19.47 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 21st. HCI Group's payout ratio is presently 6.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCI. Cantor Fitzgerald started coverage on HCI Group in a research note on Thursday, July 9th. They set an "overweight" rating and a $225.00 price target on the stock. Citizens Jmp boosted their price objective on HCI Group from $255.00 to $265.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Zacks Research lowered HCI Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 31st. Citigroup reissued a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Finally, Wall Street Zen cut HCI Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $241.67.

HCI Group Profile

HCI Group, Inc NYSE: HCI is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.

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