Man Group plc Purchases Shares of 9,763 HCI Group, Inc. $HCI

Key Points

• Man Group plc purchased 9,763 HCI Group shares worth approximately $1.71 million, giving it an estimated 0.08% stake. Institutional investors collectively own 86.99% of HCI’s outstanding shares.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds. HCI has an average “Moderate Buy” rating and an average price target of $241.67, while Citizens JMP raised its target to $265.
• HCI exceeded quarterly earnings expectations, reporting $5.60 in EPS versus the $5.04 consensus estimate. The company also declared a quarterly dividend of $0.40 per share, equivalent to a 0.9% annualized yield.

Man Group plc purchased a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,763 shares of the insurance provider's stock, valued at approximately $1,711,000. Man Group plc owned approximately 0.08% of HCI Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in HCI Group during the second quarter valued at approximately $323,098,000. Freestone Grove Partners LP grew its holdings in HCI Group by 353.6% in the fourth 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 last quarter. Arrowstreet Capital Limited Partnership grew its holdings in HCI Group by 2,944.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider's stock worth $18,067,000 after purchasing an additional 113,019 shares during the last quarter. Danske Bank A S acquired a new position in shares of HCI Group during the third quarter worth $19,256,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of HCI Group during the second quarter worth $13,805,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citizens Jmp raised their price objective on HCI Group from $255.00 to $265.00 and gave the stock a "market outperform" rating in a research report on Friday, August 7th. Citigroup reiterated a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Wall Street Zen downgraded HCI Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Cantor Fitzgerald initiated 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. Finally, Zacks Research downgraded shares of HCI Group from a "strong-buy" rating to a "hold" rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, HCI Group has an average rating of "Moderate Buy" and an average target price of $241.67.

HCI Group Price Performance

NYSE:HCI opened at $187.70 on Wednesday. The firm's fifty day moving average is $181.08 and its two-hundred day moving average is $166.14. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 8.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. HCI Group, Inc. has a one year low of $144.75 and a one year high of $210.50.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating analysts' consensus estimates of $5.04 by $0.56. The business had revenue of $246.65 million during the quarter, compared to analyst estimates of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. Research analysts expect that HCI Group, Inc. will post 19.47 EPS for the current year.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group's payout ratio is presently 6.90%.

HCI Group Company 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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