Punch & Associates Investment Management Inc. Decreases Holdings in HCI Group, Inc. $HCI

Key Points

• Punch & Associates Investment Management Inc. reduced its holdings in HCI Group, Inc. by 34.4%, owning 12,000 shares worth approximately $1.79 million after selling 6,291 shares.
• HCI Group reported a quarterly earnings per share (EPS) of $5.18, exceeding the consensus estimate of $4.47, and had a revenue of $221.92 million.
• The company recently declared a quarterly dividend of $0.40 per share, with a payout ratio of 14.18%, indicating a yield of 0.9%.

Punch & Associates Investment Management Inc. trimmed its holdings in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 34.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the insurance provider's stock after selling 6,291 shares during the period. Punch & Associates Investment Management Inc. owned 0.11% of HCI Group worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of HCI. American Century Companies Inc. lifted its holdings in HCI Group by 168.8% during the 1st quarter. American Century Companies Inc. now owns 452,781 shares of the insurance provider's stock worth $67,569,000 after buying an additional 284,315 shares during the last quarter. GAMMA Investing LLC lifted its holdings in HCI Group by 17,305.3% during the 1st quarter. GAMMA Investing LLC now owns 88,941 shares of the insurance provider's stock worth $132,730,000 after buying an additional 88,430 shares during the last quarter. Millennium Management LLC lifted its holdings in HCI Group by 78.7% during the 1st quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock worth $15,278,000 after buying an additional 45,097 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in HCI Group during the 4th quarter worth about $3,526,000. Finally, Informed Momentum Co LLC purchased a new stake in HCI Group during the 1st quarter worth about $4,068,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Stock Down 2.3%

HCI opened at $170.37 on Friday. The business has a 50 day moving average price of $150.18 and a two-hundred day moving average price of $148.53. 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 company has a market cap of $2.21 billion, a PE ratio of 15.10 and a beta of 1.18. HCI Group, Inc. has a 52 week low of $91.06 and a 52 week high of $176.40.

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

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 annualized dividend and a yield of 0.9%. HCI Group's dividend payout ratio is currently 14.18%.

Wall Street Analyst Weigh In

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

HCI Group Company 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.

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