Los Angeles Capital Management LLC Reduces Holdings in HCI Group, Inc. (NYSE:HCI)

Los Angeles Capital Management LLC trimmed its stake in HCI Group, Inc. (NYSE:HCI) by 39.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,270 shares of the insurance provider’s stock after selling 12,757 shares during the period. Los Angeles Capital Management LLC owned approximately 0.19% of HCI Group worth $2,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HCI. Barclays PLC grew its position in shares of HCI Group by 54.7% in the 3rd quarter. Barclays PLC now owns 4,962 shares of the insurance provider’s stock valued at $270,000 after buying an additional 1,754 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of HCI Group in the 3rd quarter valued at $482,000. Quadrature Capital Ltd grew its position in shares of HCI Group by 253.1% in the 3rd quarter. Quadrature Capital Ltd now owns 19,151 shares of the insurance provider’s stock valued at $1,039,000 after buying an additional 13,728 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of HCI Group by 100.6% in the 3rd quarter. GSA Capital Partners LLP now owns 21,527 shares of the insurance provider’s stock valued at $1,169,000 after buying an additional 10,797 shares during the last quarter. Finally, Range Financial Group LLC purchased a new position in shares of HCI Group in the 4th quarter valued at $587,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Stock Down 0.8 %

HCI stock opened at $91.33 on Friday. HCI Group, Inc. has a one year low of $48.84 and a one year high of $121.57. The stock has a market capitalization of $957.14 million, a PE ratio of 9.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 0.61. The company has a fifty day moving average of $103.17 and a 200-day moving average of $99.42.

HCI Group (NYSE:HCI) last released its earnings results on Wednesday, May 8th. The insurance provider reported $3.65 EPS for the quarter, topping the consensus estimate of $2.74 by $0.91. HCI Group had a net margin of 17.72% and a return on equity of 40.30%. The company had revenue of $206.61 million during the quarter, compared to analysts’ expectations of $189.17 million. As a group, analysts expect that HCI Group, Inc. will post 11.68 EPS for the current year.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 17th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Thursday, May 16th. HCI Group’s dividend payout ratio (DPR) is 16.28%.

Insider Activity at HCI Group

In related news, CEO Paresh Patel acquired 500 shares of HCI Group stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the purchase, the chief executive officer now directly owns 349,500 shares of the company’s stock, valued at $38,794,500. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Paresh Patel acquired 500 shares of HCI Group stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the purchase, the chief executive officer now directly owns 349,500 shares of the company’s stock, valued at $38,794,500. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares of the company’s stock, valued at $6,709,284.60. The disclosure for this sale can be found here. Insiders sold 113,102 shares of company stock worth $13,198,303 over the last 90 days. Company insiders own 25.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Compass Point raised their price objective on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. StockNews.com raised shares of HCI Group from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Oppenheimer reissued an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a research report on Friday, April 5th. Finally, JMP Securities raised their price objective on shares of HCI Group from $120.00 to $135.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, HCI Group presently has a consensus rating of “Buy” and a consensus target price of $127.75.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.