Balyasny Asset Management L.P. Raises Stock Position in HCI Group, Inc. (NYSE:HCI)

Balyasny Asset Management L.P. boosted its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 2,878.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,689 shares of the insurance provider's stock after acquiring an additional 110,838 shares during the quarter. Balyasny Asset Management L.P. owned about 1.09% of HCI Group worth $13,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC lifted its position in HCI Group by 1.7% in the fourth quarter. Aquatic Capital Management LLC now owns 5,694 shares of the insurance provider's stock worth $664,000 after buying an additional 94 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of HCI Group by 1.0% in the 4th quarter. New York State Teachers Retirement System now owns 10,493 shares of the insurance provider's stock worth $1,223,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of HCI Group by 28.4% during the 4th quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider's stock worth $60,000 after purchasing an additional 113 shares during the period. Rhumbline Advisers grew its holdings in HCI Group by 1.1% during the 4th quarter. Rhumbline Advisers now owns 22,315 shares of the insurance provider's stock valued at $2,600,000 after purchasing an additional 232 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in HCI Group by 7.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,024 shares of the insurance provider's stock worth $585,000 after purchasing an additional 328 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted their target price on shares of HCI Group from $165.00 to $210.00 and gave the company a "market outperform" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, HCI Group has a consensus rating of "Moderate Buy" and a consensus price target of $156.25.

HCI Group Stock Up 8.0 %

NYSE HCI traded up $12.42 on Friday, reaching $167.29. 213,097 shares of the stock traded hands, compared to its average volume of 139,959. HCI Group, Inc. has a 12 month low of $83.65 and a 12 month high of $176.40. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 13.98 and a beta of 1.23. The company has a fifty day moving average price of $143.19 and a 200-day moving average price of $126.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The insurance provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.86. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. The company had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.89 million. As a group, research analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. HCI Group's dividend payout ratio is presently 18.18%.

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.