Deutsche Bank AG grew its holdings in shares of Homeowners Choice Inc (NYSE:HCI) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 598,369 shares of the insurance provider’s stock after purchasing an additional 10,655 shares during the quarter. Deutsche Bank AG owned approximately 6.12% of Homeowners Choice worth $17,889,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in Homeowners Choice by 233.7% during the 4th quarter. Renaissance Technologies LLC now owns 61,396 shares of the insurance provider’s stock worth $1,836,000 after purchasing an additional 43,000 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake in Homeowners Choice by 198.5% during the 4th quarter. Quinn Opportunity Partners LLC now owns 19,400 shares of the insurance provider’s stock worth $580,000 after purchasing an additional 12,900 shares during the last quarter. Virtu Financial LLC acquired a new stake in Homeowners Choice during the 4th quarter worth $248,000. Tower Research Capital LLC TRC acquired a new stake in Homeowners Choice during the 4th quarter worth $251,000. Finally, BlackRock Inc. boosted its stake in Homeowners Choice by 2.5% during the 4th quarter. BlackRock Inc. now owns 1,077,636 shares of the insurance provider’s stock worth $32,220,000 after purchasing an additional 26,015 shares during the last quarter. 68.07% of the stock is currently owned by institutional investors.
Homeowners Choice stock opened at $38.09 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.23. The firm has a market cap of $362.62, a PE ratio of -31.22 and a beta of 2.16. Homeowners Choice Inc has a 1 year low of $27.11 and a 1 year high of $49.25.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 16th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.40 annualized dividend and a dividend yield of 3.68%. Homeowners Choice’s payout ratio is -114.75%.
Homeowners Choice declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several research analysts have recently weighed in on HCI shares. TheStreet raised shares of Homeowners Choice from a “c” rating to a “b-” rating in a research report on Tuesday, March 6th. Zacks Investment Research cut shares of Homeowners Choice from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, ValuEngine raised shares of Homeowners Choice from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.50.
Homeowners Choice Profile
HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.
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