Essex Investment Management Co. LLC trimmed its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 138,086 shares of the insurance provider's stock after selling 52,414 shares during the quarter. HCI Group comprises about 2.4% of Essex Investment Management Co. LLC's portfolio, making the stock its 3rd biggest holding. Essex Investment Management Co. LLC owned approximately 1.61% of HCI Group worth $12,069,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in HCI Group during the third quarter worth $62,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of HCI Group by 399.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,773 shares of the insurance provider's stock worth $155,000 after buying an additional 1,418 shares during the last quarter. SG Americas Securities LLC acquired a new stake in HCI Group in the fourth quarter valued at about $155,000. Cedar Brook Financial Partners LLC bought a new position in HCI Group in the fourth quarter valued at about $201,000. Finally, Louisiana State Employees Retirement System acquired a new position in HCI Group during the fourth quarter worth about $262,000. 86.99% of the stock is owned by institutional investors and hedge funds.
HCI Group Trading Down 1.0 %
NYSE:HCI traded down $1.08 during trading hours on Friday, hitting $103.78. 225,416 shares of the company were exchanged, compared to its average volume of 161,727. The company has a fifty day simple moving average of $112.01 and a 200 day simple moving average of $95.14. HCI Group, Inc. has a one year low of $48.84 and a one year high of $121.57. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.56 and a beta of 1.15. The company has a current ratio of 0.61, a quick ratio of 0.62 and a debt-to-equity ratio of 0.46.
HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 17.72% and a return on equity of 40.30%. The company had revenue of $162.67 million for the quarter, compared to analyst estimates of $146.09 million. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts expect that HCI Group, Inc. will post 11.27 EPS for the current fiscal year.
HCI Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 17th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.60 annualized dividend and a yield of 1.54%. HCI Group's dividend payout ratio is currently 16.28%.
Insiders Place Their Bets
In other HCI Group news, General Counsel Andrew L. Graham sold 800 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now directly owns 57,630 shares in the company, valued at approximately $6,709,284.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Andrew L. Graham sold 800 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares in the company, valued at $6,709,284.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony Saravanos sold 12,967 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total value of $1,517,268.67. Following the completion of the sale, the insider now owns 67,033 shares of the company's stock, valued at $7,843,531.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,102 shares of company stock worth $13,198,303. 25.25% of the stock is owned by corporate insiders.
Analyst Ratings Changes
HCI has been the topic of a number of research analyst reports. StockNews.com upgraded shares of HCI Group from a "hold" rating to a "buy" rating in a research note on Friday. Compass Point increased their price target on HCI Group from $90.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. William Blair upgraded HCI Group from a "market perform" rating to an "outperform" rating in a research report on Friday, March 8th. JMP Securities upped their target price on HCI Group from $120.00 to $135.00 and gave the stock a "market outperform" rating in a report on Thursday. Finally, Oppenheimer reissued an "outperform" rating and set a $140.00 price target on shares of HCI Group in a research note on Friday, April 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, HCI Group presently has an average rating of "Buy" and a consensus price target of $127.75.
Get Our Latest Analysis on HCI Group
About HCI Group
(
Free Report)
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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