Principal Financial Group Inc. Sells 31,861 Shares of HCI Group, Inc. $HCI

Principal Financial Group Inc. lowered its holdings in HCI Group, Inc. (NYSE:HCI) by 37.8% during the 1st quarter, Holdings Channel reports. The firm owned 52,509 shares of the insurance provider’s stock after selling 31,861 shares during the period. Principal Financial Group Inc.’s holdings in HCI Group were worth $8,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of HCI Group by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock worth $160,947,000 after buying an additional 32,167 shares during the last quarter. Assetmark Inc. increased its holdings in HCI Group by 10.4% during the fourth quarter. Assetmark Inc. now owns 35,806 shares of the insurance provider’s stock worth $6,864,000 after buying an additional 3,380 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in HCI Group during the first quarter worth about $2,302,000. Thrivent Financial for Lutherans raised its position in HCI Group by 642.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 67,460 shares of the insurance provider’s stock worth $12,931,000 after acquiring an additional 58,377 shares during the period. Finally, Intech Investment Management LLC raised its position in HCI Group by 934.5% in the fourth quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider’s stock worth $8,484,000 after acquiring an additional 39,979 shares during the period. Institutional investors own 86.99% of the company’s stock.

HCI Group Price Performance

NYSE HCI opened at $178.42 on Monday. The company has a market cap of $2.28 billion, a PE ratio of 7.83 and a beta of 1.03. HCI Group, Inc. has a 52 week low of $136.37 and a 52 week high of $210.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $167.92 and its two-hundred day simple moving average is $162.91.

HCI Group (NYSE:HCI) last posted its earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.19. The firm had revenue of $242.88 million during the quarter, compared to the consensus estimate of $245.09 million. HCI Group had a net margin of 32.64% and a return on equity of 30.88%. Research analysts predict that HCI Group, Inc. will post 18.29 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is 7.02%.

Analyst Upgrades and Downgrades

HCI has been the subject of a number of research reports. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Wall Street Zen cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Cantor Fitzgerald initiated coverage on HCI Group in a research note on Thursday, July 9th. They issued an “overweight” rating and a $225.00 price objective on the stock. Finally, Weiss Ratings raised HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, HCI Group has a consensus rating of “Buy” and an average price target of $238.33.

HCI Group Company Profile

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.