Precision Wealth Strategies LLC Invests $934,000 in HCI Group, Inc. $HCI

Key Points

• Precision Wealth Strategies LLC disclosed a new first-quarter position in HCI Group, buying 6,038 shares valued at about $934,000.
• HCI Group reported better-than-expected earnings for the latest quarter, with EPS of $5.45 versus the $5.26 estimate, though revenue came in slightly below forecasts.
• The company also announced a quarterly dividend of $0.40 per share, and analyst sentiment remains constructive with a consensus Buy rating and average price target of $238.33.

Precision Wealth Strategies LLC purchased a new position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,038 shares of the insurance provider's stock, valued at approximately $934,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in HCI Group by 5.5% in the first quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider's stock worth $2,093,000 after purchasing an additional 727 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of HCI Group by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider's stock valued at $736,000 after buying an additional 228 shares in the last quarter. Millennium Management LLC increased its stake in shares of HCI Group by 78.7% in the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock valued at $15,278,000 after buying an additional 45,097 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of HCI Group by 115.9% in the second quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider's stock valued at $213,000 after buying an additional 751 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of HCI Group by 557.6% in the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock valued at $33,000 after buying an additional 184 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Trading Down 0.3%

HCI stock opened at $177.72 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. HCI Group, Inc. has a twelve month low of $136.37 and a twelve month high of $210.50. The company has a market cap of $2.27 billion, a P/E ratio of 7.80 and a beta of 1.03. The business has a fifty day moving average of $165.52 and a 200-day moving average of $163.48.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.19. The business had revenue of $242.88 million for the quarter, compared to analysts' expectations of $245.09 million. HCI Group had a return on equity of 30.88% and a net margin of 32.64%. As a group, equities research analysts expect that HCI Group, Inc. will post 18.41 EPS for the current year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group's dividend payout ratio is presently 7.02%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HCI. Cantor Fitzgerald started coverage on shares of HCI Group in a report on Thursday, July 9th. They set an "overweight" rating and a $225.00 price objective on the stock. Wall Street Zen downgraded shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Zacks Research upgraded shares of HCI Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings raised shares of HCI Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $238.33.

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.

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