Freestone Grove Partners LP Purchases New Shares in HCI Group, Inc. $HCI

Freestone Grove Partners LP acquired a new stake in HCI Group, Inc. (NYSE:HCI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 175,557 shares of the insurance provider’s stock, valued at approximately $30,766,000. Freestone Grove Partners LP owned approximately 1.41% of HCI Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of HCI. Vanguard Group Inc. raised its stake in shares of HCI Group by 4.0% during 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 period. Intech Investment Management LLC grew its stake in HCI Group by 934.5% in the 4th quarter. Intech Investment Management LLC now owns 44,257 shares of the insurance provider’s stock valued at $8,484,000 after acquiring an additional 39,979 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in HCI Group in the 1st quarter worth $2,302,000. Thrivent Financial for Lutherans raised its position in HCI Group by 642.7% during 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, Meeder Asset Management Inc. acquired a new position in HCI Group during the second quarter worth $2,777,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HCI. Wall Street Zen cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Citizens Jmp lifted their price objective on HCI Group from $255.00 to $265.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Cantor Fitzgerald started coverage on HCI Group in a report on Thursday, July 9th. They set an “overweight” rating and a $225.00 target price for the company. Finally, Zacks Research downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $241.67.

HCI Group Trading Down 0.3%

HCI opened at $186.56 on Friday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 8.04 and a beta of 1.04. The company’s 50 day simple moving average is $180.00 and its two-hundred day simple moving average is $165.65. HCI Group, Inc. has a 1-year low of $144.75 and a 1-year high of $210.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $5.60 EPS for the quarter, beating the consensus estimate of $5.04 by $0.56. The firm had revenue of $246.65 million during the quarter, compared to analysts’ expectations of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. Analysts expect that HCI Group, Inc. will post 19.47 EPS for the current fiscal year.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be given a dividend of $0.40 per share. 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 payout ratio is presently 6.90%.

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.