Vanguard Group Inc. Sells 5,584 Shares of HCI Group, Inc. $HCI

Key Points

• Vanguard Group Inc. has reduced its position in HCI Group, Inc. by 0.9%, currently holding approximately 591,711 shares valued at $88.3 million.
• HCI Group reported earnings of $5.18 per share, surpassing analysts' expectations of $4.47 for the quarter, with a revenue of $221.92 million.
• The company announced a quarterly dividend of $0.40 per share, which will be paid to stockholders on September 19th, reflecting a 1.0% dividend yield.

Vanguard Group Inc. lowered its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 591,711 shares of the insurance provider's stock after selling 5,584 shares during the period. Vanguard Group Inc. owned 5.50% of HCI Group worth $88,301,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Assetmark Inc. increased its stake in shares of HCI Group by 8.4% during the 1st quarter. Assetmark Inc. now owns 33,104 shares of the insurance provider's stock worth $4,940,000 after purchasing an additional 2,558 shares during the last quarter. Navellier & Associates Inc. increased its stake in shares of HCI Group by 5.8% during the 1st quarter. Navellier & Associates Inc. now owns 10,549 shares of the insurance provider's stock worth $1,569,000 after purchasing an additional 576 shares during the last quarter. Royce & Associates LP increased its stake in shares of HCI Group by 25.7% during the 1st quarter. Royce & Associates LP now owns 12,018 shares of the insurance provider's stock worth $1,793,000 after purchasing an additional 2,458 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of HCI Group during the 1st quarter worth approximately $1,133,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of HCI Group by 45.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,361 shares of the insurance provider's stock worth $1,696,000 after purchasing an additional 3,562 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

HCI Group Price Performance

NYSE:HCI traded up $0.10 during trading hours on Thursday, hitting $163.89. The stock had a trading volume of 100,308 shares, compared to its average volume of 147,535. The company has a 50 day simple moving average of $147.74 and a two-hundred day simple moving average of $146.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. HCI Group, Inc. has a one year low of $91.06 and a one year high of $176.40. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.53 and a beta of 1.24.

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

HCI Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in 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 research note on Monday, May 19th. Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Compass Point upgraded shares of HCI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $148.00 to $205.00 in a research note on Friday, May 30th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, HCI Group presently has an average rating of "Buy" and an average target price of $181.25.

HCI Group 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.