Nicholas Investment Partners LP Takes Position in HCI Group, Inc. $HCI

Key Points

• Nicholas Investment Partners LP acquired 11,000 HCI Group shares worth approximately $1.93 million, representing about 0.09% of the company. Institutional investors and hedge funds collectively own 86.99% of HCI Group.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings. HCI has a consensus “Moderate Buy” rating and an average price target of $241.67.
• HCI Group recently beat quarterly earnings expectations, reporting $5.60 in EPS versus the $5.04 consensus estimate, and declared a quarterly dividend of $0.40 per share, equivalent to a 0.9% annual yield.

Nicholas Investment Partners LP bought a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 11,000 shares of the insurance provider's stock, valued at approximately $1,928,000. Nicholas Investment Partners LP owned about 0.09% of HCI Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of HCI Group by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider's stock worth $160,947,000 after purchasing an additional 32,167 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of HCI Group by 934.5% in the 4th quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider's stock valued at $8,484,000 after purchasing an additional 39,979 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of HCI Group by 642.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 67,460 shares of the insurance provider's stock valued at $12,931,000 after purchasing an additional 58,377 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of HCI Group in the 1st quarter valued at about $2,302,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of HCI Group in the 1st quarter valued at about $934,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on HCI shares. Weiss Ratings lowered HCI Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Citigroup reissued a "market outperform" rating on shares of HCI Group in a report on Friday, August 7th. Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Cantor Fitzgerald initiated coverage on shares of HCI Group in a research report on Thursday, July 9th. They set an "overweight" rating and a $225.00 target price on the stock. Finally, Citizens Jmp lifted their target price on shares of HCI Group from $255.00 to $265.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $241.67.

HCI Group Stock Up 1.5%

HCI opened at $185.19 on Tuesday. HCI Group, Inc. has a 52 week low of $144.75 and a 52 week high of $210.50. The business has a 50 day moving average price of $178.65 and a two-hundred day moving average price of $165.09. 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 has a market cap of $2.30 billion, a PE ratio of 7.98 and a beta of 1.04.

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

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group's dividend payout ratio (DPR) is 6.90%.

About HCI Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source