Northern Trust Corp Grows Stock Holdings in HCI Group, Inc. $HCI

Key Points

• Northern Trust Corp increased its stake in HCI Group by 3.3%, acquiring an additional 2,897 shares, bringing its total holdings to 91,127 shares valued at approximately $13.6 million.
• Major investors have significantly raised their stakes in HCI Group, including American Century Companies Inc. with a 168.8% increase and GAMMA Investing LLC with a staggering 17,305.3% increase in the 1st quarter.
• HCI Group reported an EPS of $5.18 for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.40 per share, with a yield of 0.9%.

Northern Trust Corp grew its holdings in HCI Group, Inc. (NYSE:HCI - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,127 shares of the insurance provider's stock after acquiring an additional 2,897 shares during the period. Northern Trust Corp owned 0.85% of HCI Group worth $13,599,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Simplex Trading LLC bought a new stake in shares of HCI Group during the 1st quarter valued at $148,000. GAMMA Investing LLC grew its holdings in HCI Group by 16.6% during the 1st quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock valued at $89,000 after buying an additional 85 shares in the last quarter. Principal Financial Group Inc. grew its holdings in HCI Group by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider's stock valued at $9,202,000 after buying an additional 1,332 shares in the last quarter. Victory Capital Management Inc. increased its holdings in HCI Group by 6.7% in the 1st quarter. Victory Capital Management Inc. now owns 22,897 shares of the insurance provider's stock valued at $3,417,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in HCI Group by 208.3% in the 4th quarter. Bank of America Corp DE now owns 36,863 shares of the insurance provider's stock valued at $4,296,000 after acquiring an additional 24,907 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HCI has been the topic of a number of research reports. Wall Street Zen downgraded shares of HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. JMP Securities lifted their price target on shares of HCI Group from $210.00 to $225.00 and gave the company a "market outperform" rating in a report on Monday, May 19th. Finally, Compass Point raised shares of HCI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $148.00 to $205.00 in a research note on Friday, May 30th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, HCI Group has an average rating of "Buy" and an average target price of $181.25.

HCI Group Trading Down 1.5%

HCI traded down $2.62 during trading on Tuesday, reaching $172.28. The company had a trading volume of 14,639 shares, compared to its average volume of 133,999. The stock has a market cap of $2.23 billion, a P/E ratio of 15.31 and a beta of 1.18. The business has a 50 day simple moving average of $150.64 and a 200-day simple moving average of $149.15. HCI Group, Inc. has a 52 week low of $91.06 and a 52 week high of $180.47. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02.

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

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. HCI Group's payout ratio is currently 14.18%.

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.