Punch & Associates Investment Management Inc. Invests $2.10 Million in HCI Group, Inc. $HCI

Key Points

• Punch & Associates acquired 12,000 HCI Group shares worth approximately $2.10 million, representing about 0.10% of the insurer. Institutional investors and hedge funds collectively own 86.99% of HCI.
• HCI Group reported quarterly EPS of $5.60, beating analysts’ $5.04 estimate, while revenue of $246.65 million was slightly below expectations. The company posted a 32.60% net margin and 28.80% return on equity.
• The company declared a quarterly dividend of $0.40 per share, equivalent to an annualized $1.60 payout and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $241.67, compared with the reported share price of $187.37.

Punch & Associates Investment Management Inc. acquired a new position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 12,000 shares of the insurance provider's stock, valued at approximately $2,103,000. Punch & Associates Investment Management Inc. owned approximately 0.10% of HCI Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in 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 buying an additional 32,167 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of HCI Group by 934.5% in the fourth quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider's stock valued at $8,484,000 after buying an additional 39,979 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of HCI Group by 642.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 67,460 shares of the insurance provider's stock worth $12,931,000 after acquiring an additional 58,377 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of HCI Group during the 1st quarter worth approximately $2,302,000. Finally, Meeder Asset Management Inc. bought a new position in shares of HCI Group during the 2nd quarter worth approximately $2,777,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Price Performance

NYSE:HCI opened at $187.37 on Thursday. HCI Group, Inc. has a 52 week low of $144.75 and a 52 week high of $210.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.69. The firm's 50-day simple moving average is $179.55 and its 200 day simple moving average is $165.49. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 8.08 and a beta of 1.04.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings data 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 net margin of 32.60% and a return on equity of 28.80%. The firm had revenue of $246.65 million during the quarter, compared to the consensus estimate of $247.43 million. As a group, sell-side analysts predict that HCI Group, Inc. will post 19.47 earnings per share for the current year.

HCI Group Announces Dividend

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

Analyst Upgrades and Downgrades

HCI has been the topic of a number of research analyst reports. Cantor Fitzgerald began coverage on HCI Group in a research note on Thursday, July 9th. They issued an "overweight" rating and a $225.00 price target on the stock. Zacks Research cut shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of HCI Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Citigroup restated a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of HCI Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $241.67.

HCI Group Profile

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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