BlackRock Inc. Invests $323.10 Million in HCI Group, Inc. $HCI

BlackRock Inc. bought a new stake in HCI Group, Inc. (NYSE:HCI) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,843,638 shares of the insurance provider’s stock, valued at approximately $323,098,000. BlackRock Inc. owned approximately 0.14% of HCI Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in shares of HCI Group by 62.8% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 71 shares during the last quarter. NDVR Inc. grew its stake in HCI Group by 7.0% during the 4th quarter. NDVR Inc. now owns 1,236 shares of the insurance provider’s stock worth $237,000 after buying an additional 81 shares during the last quarter. Captrust Financial Advisors grew its stake in HCI Group by 2.0% during the 4th quarter. Captrust Financial Advisors now owns 4,711 shares of the insurance provider’s stock worth $903,000 after buying an additional 91 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in HCI Group by 2.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,794 shares of the insurance provider’s stock worth $920,000 after buying an additional 94 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in HCI Group by 1.6% during the first quarter. Illinois Municipal Retirement Fund now owns 6,011 shares of the insurance provider’s stock worth $929,000 after buying an additional 97 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings downgraded HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Wall Street Zen downgraded shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Citizens Jmp lifted their price objective on shares of HCI Group from $255.00 to $265.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.67.

HCI Group Stock Performance

NYSE:HCI opened at $187.37 on Thursday. The firm’s fifty day moving average price is $179.55 and its 200 day moving average price is $165.49. 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. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 8.08 and a beta of 1.04.

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

HCI Group Dividend Announcement

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group’s payout ratio is 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.