GSA Capital Partners LLP Makes New $870,000 Investment in HCI Group, Inc. $HCI

GSA Capital Partners LLP purchased a new stake in HCI Group, Inc. (NYSE:HCI) in the second quarter, Holdings Channel reports. The firm purchased 4,962 shares of the insurance provider’s stock, valued at approximately $870,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HCI. Bridgewater Advisors Inc. acquired a new position in HCI Group during the second quarter worth $894,000. Summit Global Investments purchased a new stake in HCI Group in the 2nd quarter valued at $230,000. Walleye Capital LLC acquired a new stake in shares of HCI Group in the 2nd quarter worth $1,317,000. Bank of America Corp DE increased its stake in shares of HCI Group by 11.5% in the 1st quarter. Bank of America Corp DE now owns 80,689 shares of the insurance provider’s stock worth $12,475,000 after acquiring an additional 8,292 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of HCI Group by 28.4% during the 1st quarter. California State Teachers Retirement System now owns 14,136 shares of the insurance provider’s stock worth $2,186,000 after acquiring an additional 3,123 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on HCI shares. Cantor Fitzgerald assumed coverage on shares of HCI Group in a research report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price target on the stock. Citigroup restated a “market outperform” rating on shares of HCI Group in a research report on Friday, August 7th. Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Citizens Jmp boosted their target price on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, Weiss Ratings cut shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

HCI Group Trading Up 1.2%

HCI opened at $184.84 on Wednesday. HCI Group, Inc. has a 52 week low of $144.75 and a 52 week high of $210.50. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $176.94 and a 200-day simple moving average of $164.38. The firm has a market cap of $2.30 billion, a P/E ratio of 7.97 and a beta of 1.04.

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

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. HCI Group’s payout ratio is currently 6.90%.

HCI Group 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.