Goldman Sachs Group Inc. Decreases Position in HCI Group, Inc. (HCI)
Goldman Sachs Group Inc. reduced its stake in shares of HCI Group, Inc. (NYSE:HCI) by 18.8% during the first quarter, Holdings Channel reports. The firm owned 17,738 shares of the insurance provider’s stock after selling 4,100 shares during the period. Goldman Sachs Group Inc.’s holdings in HCI Group were worth $808,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System acquired a new stake in HCI Group during the first quarter valued at approximately $205,000. Thrivent Financial For Lutherans purchased a new position in shares of HCI Group during the first quarter worth approximately $218,000. OMERS ADMINISTRATION Corp purchased a new position in shares of HCI Group during the first quarter worth approximately $219,000. Capstone Asset Management Co. purchased a new position in shares of HCI Group during the first quarter worth approximately $222,000. Finally, Airain ltd purchased a new position in shares of HCI Group during the first quarter worth approximately $229,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.
Shares of HCI Group, Inc. (HCI) traded up 1.50% during trading on Wednesday, reaching $40.54. 6,411 shares of the company’s stock were exchanged. The company’s 50-day moving average is $45.03 and its 200 day moving average is $45.44. The stock has a market capitalization of $404.83 million, a PE ratio of 11.16 and a beta of 2.36. HCI Group, Inc. has a 52 week low of $24.35 and a 52 week high of $50.93.
HCI Group (NYSE:HCI) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $67.58 million for the quarter, compared to analysts’ expectations of $64.33 million. HCI Group had a return on equity of 15.65% and a net margin of 13.52%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. On average, analysts forecast that HCI Group, Inc. will post $3.40 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, August 16th. HCI Group’s payout ratio is 38.36%.
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A number of equities analysts have commented on the stock. BidaskClub downgraded shares of HCI Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. SunTrust Banks, Inc. assumed coverage on shares of HCI Group in a research report on Tuesday, July 4th. They set a “buy” rating and a $52.00 price objective for the company. ValuEngine upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of HCI Group in a research report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. HCI Group currently has a consensus rating of “Hold” and a consensus target price of $47.67.
HCI Group Company Profile
HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.
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