Geode Capital Management LLC Has $36.82 Million Stock Position in HCI Group, Inc. $HCI

Geode Capital Management LLC increased its position in HCI Group, Inc. (NYSE:HCI) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,881 shares of the insurance provider’s stock after purchasing an additional 14,583 shares during the period. Geode Capital Management LLC’s holdings in HCI Group were worth $36,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HCI. Envestnet Asset Management Inc. grew its holdings in shares of HCI Group by 22.2% during the first quarter. Envestnet Asset Management Inc. now owns 8,886 shares of the insurance provider’s stock valued at $1,326,000 after buying an additional 1,612 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of HCI Group by 175.4% in the 1st quarter. Deutsche Bank AG now owns 18,995 shares of the insurance provider’s stock worth $2,835,000 after acquiring an additional 12,098 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in HCI Group in the 1st quarter valued at about $797,000. Simplex Trading LLC bought a new position in HCI Group in the 1st quarter valued at about $148,000. Finally, Virtu Financial LLC acquired a new position in HCI Group during the 1st quarter valued at about $254,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

HCI has been the subject of several recent research reports. Oppenheimer downgraded HCI Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of HCI Group in a research note on Tuesday. Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Citizens Jmp boosted their price target on shares of HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $230.00.

HCI Group Stock Up 0.8%

Shares of NYSE HCI opened at $177.02 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.29 billion, a P/E ratio of 15.69 and a beta of 1.16. HCI Group, Inc. has a 52 week low of $106.89 and a 52 week high of $210.50. The business has a 50-day simple moving average of $189.59 and a two-hundred day simple moving average of $167.90.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. The firm had revenue of $216.35 million during the quarter, compared to analyst estimates of $223.53 million. Research analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, November 21st. HCI Group’s dividend payout ratio (DPR) is presently 10.22%.

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.