Millennium Management LLC Cuts Stock Holdings in HCI Group, Inc. (NYSE:HCI)

Millennium Management LLC reduced its holdings in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 43.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,280 shares of the insurance provider's stock after selling 44,899 shares during the quarter. Millennium Management LLC owned 0.54% of HCI Group worth $6,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in HCI Group in the fourth quarter valued at about $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of HCI Group during the fourth quarter worth about $211,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of HCI Group during the fourth quarter worth about $255,000. Integrated Quantitative Investments LLC bought a new position in HCI Group during the fourth quarter valued at approximately $281,000. Finally, Clare Market Investments LLC bought a new position in HCI Group during the fourth quarter valued at approximately $296,000. 86.99% of the stock is owned by institutional investors.

HCI Group Stock Performance

HCI traded up $5.87 on Friday, reaching $168.72. 167,105 shares of the stock were exchanged, compared to its average volume of 136,950. The company's 50-day moving average price is $151.28 and its 200 day moving average price is $131.61. HCI Group, Inc. has a fifty-two week low of $83.65 and a fifty-two week high of $176.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $1.95 billion, a PE ratio of 14.10 and a beta of 1.23.

HCI Group (NYSE:HCI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The insurance provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.86. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. The firm had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.89 million. As a group, sell-side analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 16th. This represents a $1.60 annualized dividend and a yield of 0.95%. HCI Group's dividend payout ratio (DPR) is currently 15.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JMP Securities increased their price target on HCI Group from $210.00 to $225.00 and gave the company a "market outperform" rating in a research note on Monday, May 19th. Compass Point raised HCI Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $148.00 to $205.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, HCI Group has a consensus rating of "Moderate Buy" and a consensus price target of $181.25.

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.