Raymond James Financial Inc. Boosts Stock Holdings in HCI Group, Inc. $HCI

Key Points

• Raymond James Financial Inc. has increased its holdings in HCI Group by 30.3%, owning about 0.28% of the company worth $4.5 million as of the latest SEC filing.
• Multiple institutional investors, including GAMMA Investing LLC and SG Americas Securities LLC, have also raised their stakes in HCI Group during the first quarter, contributing to a total institutional ownership of 86.99%.
• HCI Group recently reported earnings of $5.18 per share, surpassing analysts’ estimates, and announced a quarterly dividend of $0.40 to be paid on September 19th.

Raymond James Financial Inc. grew its holdings in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 30.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,345 shares of the insurance provider's stock after buying an additional 7,063 shares during the quarter. Raymond James Financial Inc. owned 0.28% of HCI Group worth $4,528,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of HCI Group by 16.6% during the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock valued at $89,000 after buying an additional 85 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of HCI Group by 825.7% during the first quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider's stock valued at $97,000 after buying an additional 578 shares during the last quarter. Simplex Trading LLC acquired a new position in shares of HCI Group during the first quarter valued at about $148,000. Cresset Asset Management LLC acquired a new position in shares of HCI Group during the first quarter valued at about $209,000. Finally, CCG Wealth Management LLC acquired a new position in shares of HCI Group during the first quarter valued at about $246,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HCI. JMP Securities lifted their price objective 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. Compass Point raised shares of HCI Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $148.00 to $205.00 in a research report on Friday, May 30th. Finally, Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $181.25.

HCI Group Stock Performance

HCI stock traded up $4.26 during mid-day trading on Thursday, hitting $182.38. The company had a trading volume of 131,804 shares, compared to its average volume of 120,750. The firm has a market cap of $2.36 billion, a PE ratio of 16.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71. The stock's fifty day moving average price is $152.57 and its two-hundred day moving average price is $149.96. HCI Group, Inc. has a 12 month low of $91.06 and a 12 month high of $183.12.

HCI Group (NYSE:HCI - Get Free Report) last posted its earnings results on Thursday, August 7th. The insurance provider reported $5.18 earnings per share for the quarter, topping 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 net margin of 18.58% and a return on equity of 25.84%. On average, analysts forecast that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. HCI Group's dividend payout ratio (DPR) is presently 14.18%.

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.