Wells Fargo & Company MN Has $470,000 Holdings in HCI Group, Inc. (HCI)
Wells Fargo & Company MN lowered its position in shares of HCI Group, Inc. (NYSE:HCI) by 11.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,024 shares of the insurance provider’s stock after selling 1,268 shares during the quarter. Wells Fargo & Company MN owned 0.10% of HCI Group worth $470,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in HCI. Parametric Portfolio Associates LLC raised its position in shares of HCI Group by 40.5% during the first quarter. Parametric Portfolio Associates LLC now owns 9,249 shares of the insurance provider’s stock valued at $422,000 after buying an additional 2,666 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of HCI Group by 4.6% during the first quarter. Principal Financial Group Inc. now owns 64,865 shares of the insurance provider’s stock valued at $2,957,000 after buying an additional 2,865 shares during the last quarter. California Public Employees Retirement System raised its position in shares of HCI Group by 9.7% during the first quarter. California Public Employees Retirement System now owns 32,800 shares of the insurance provider’s stock valued at $1,495,000 after buying an additional 2,900 shares during the last quarter. Legal & General Group Plc raised its position in shares of HCI Group by 1.6% during the first quarter. Legal & General Group Plc now owns 14,147 shares of the insurance provider’s stock valued at $644,000 after buying an additional 221 shares during the last quarter. Finally, Thrivent Financial For Lutherans bought a new stake in shares of HCI Group during the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 73.86% of the company’s stock.
In other HCI Group news, CEO Paresh Patel purchased 1,000 shares of HCI Group stock in a transaction that occurred on Wednesday, September 20th. The shares were bought at an average price of $36.06 per share, for a total transaction of $36,060.00. Following the completion of the transaction, the chief executive officer now owns 227,000 shares of the company’s stock, valued at approximately $8,185,620. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 1,565 shares of company stock worth $56,894 in the last 90 days. 20.37% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on HCI shares. TheStreet cut shares of HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. BidaskClub cut shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. ValuEngine upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 13th. Finally, Sidoti upgraded shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, September 11th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.33.
Shares of HCI Group, Inc. (HCI) opened at $32.25 on Tuesday. HCI Group, Inc. has a 1 year low of $27.11 and a 1 year high of $50.93. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.22.
HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($4.44) earnings per share for the quarter, missing the consensus estimate of ($2.52) by ($1.92). HCI Group had a negative return on equity of 6.34% and a negative net margin of 5.63%. The business had revenue of $44.00 million during the quarter, compared to the consensus estimate of $66.46 million. During the same quarter in the prior year, the firm posted $1.10 EPS. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. equities analysts expect that HCI Group, Inc. will post -0.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.34%. The ex-dividend date is Thursday, November 16th. HCI Group’s dividend payout ratio is presently -84.85%.
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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