Nuveen LLC Acquires Shares of 19,045 HCI Group, Inc. $HCI

Key Points

• Nuveen LLC invested approximately $2.84 million in HCI Group, acquiring 19,045 shares, which constitutes about 0.18% of the company's stock.
• HCI Group reported earnings of $5.18 per share, surpassing analyst expectations and indicating strong financial performance with a return on equity of 25.84%.
• The company announced a quarterly dividend of $0.40 per share, which translates to an annual yield of 1.0% for shareholders.

Nuveen LLC bought a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,045 shares of the insurance provider's stock, valued at approximately $2,842,000. Nuveen LLC owned 0.18% of HCI Group at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of HCI Group by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 154,839 shares of the insurance provider's stock valued at $18,043,000 after purchasing an additional 8,101 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of HCI Group by 2,878.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 114,689 shares of the insurance provider's stock valued at $13,365,000 after purchasing an additional 110,838 shares during the period. GAMMA Investing LLC increased its holdings in shares of HCI Group by 17,305.3% in the 1st quarter. GAMMA Investing LLC now owns 88,941 shares of the insurance provider's stock valued at $132,730,000 after purchasing an additional 88,430 shares during the period. Northern Trust Corp increased its holdings in shares of HCI Group by 9.1% in the 4th quarter. Northern Trust Corp now owns 88,230 shares of the insurance provider's stock valued at $10,281,000 after purchasing an additional 7,349 shares during the period. Finally, FJ Capital Management LLC increased its holdings in shares of HCI Group by 65.7% in the 4th quarter. FJ Capital Management LLC now owns 62,250 shares of the insurance provider's stock valued at $7,254,000 after purchasing an additional 24,682 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

HCI Group Stock Performance

HCI stock traded up $1.35 during midday trading on Tuesday, hitting $168.06. 38,926 shares of the company traded hands, compared to its average volume of 133,971. HCI Group, Inc. has a twelve month low of $91.06 and a twelve month high of $176.40. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $148.46 and a 200-day simple moving average of $147.28. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 14.91 and a beta of 1.18.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The insurance provider reported $5.18 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.71. HCI Group had a return on equity of 25.84% and a net margin of 18.58%.The company had revenue of $221.92 million during the quarter, compared to analysts' expectations of $218.98 million. As a group, equities research analysts predict that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. HCI Group's dividend payout ratio is currently 14.18%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HCI shares. JMP Securities increased their price objective on HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, May 19th. Wall Street Zen downgraded HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Compass Point upgraded HCI Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $148.00 to $205.00 in a report on Friday, May 30th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "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.