Ieq Capital LLC Makes New $1.44 Million Investment in HCI Group, Inc. $HCI

Ieq Capital LLC purchased a new stake in HCI Group, Inc. (NYSE:HCI) in the second quarter, according to its most recent filing with the SEC. The fund purchased 8,218 shares of the insurance provider’s stock, valued at approximately $1,440,000. Ieq Capital LLC owned about 0.07% of HCI Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in HCI Group in the second quarter worth $323,098,000. Freestone Grove Partners LP grew its position in shares of HCI Group by 353.6% during the 4th quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock valued at $52,735,000 after buying an additional 214,464 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in HCI Group by 2,944.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 116,858 shares of the insurance provider’s stock worth $18,067,000 after acquiring an additional 113,019 shares during the period. Danske Bank A S acquired a new stake in HCI Group during the third quarter worth about $19,256,000. Finally, Bank of New York Mellon Corp bought a new position in HCI Group in the second quarter worth about $13,805,000. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Price Performance

Shares of NYSE:HCI opened at $187.37 on Thursday. The firm’s 50 day moving average is $179.55 and its two-hundred day moving average is $165.49. The firm has a market capitalization of $2.33 billion, a P/E ratio of 8.08 and a beta of 1.04. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03. HCI Group, Inc. has a 52 week low of $144.75 and a 52 week high of $210.50.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.56. HCI Group had a return on equity of 28.80% and a net margin of 32.60%.The business had revenue of $246.65 million during the quarter, compared to the consensus estimate of $247.43 million. Analysts anticipate that HCI Group, Inc. will post 19.47 earnings per share for the current year.

HCI Group Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citizens Jmp upped their target price on HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Zacks Research downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Wall Street Zen lowered HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Cantor Fitzgerald started coverage on HCI Group in a research note on Thursday, July 9th. They issued an “overweight” rating and a $225.00 target price on the stock. Finally, Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, HCI Group presently has an average rating of “Moderate Buy” and a consensus target price of $241.67.

About HCI Group

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.