HCI Group, Inc. (NYSE:HCI) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in HCI Group, Inc. (NYSE:HCI) by 10.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,156 shares of the insurance provider’s stock after buying an additional 9,398 shares during the period. Millennium Management LLC owned 0.93% of HCI Group worth $8,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HCI. Point72 DIFC Ltd acquired a new stake in HCI Group in the 2nd quarter valued at about $26,000. Gladius Capital Management LP acquired a new stake in shares of HCI Group in the second quarter valued at approximately $31,000. CWM LLC increased its holdings in shares of HCI Group by 115.4% in the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 495 shares during the last quarter. Intech Investment Management LLC purchased a new position in HCI Group during the second quarter worth approximately $201,000. Finally, Arizona State Retirement System boosted its stake in HCI Group by 11.3% during the second quarter. Arizona State Retirement System now owns 2,234 shares of the insurance provider’s stock worth $206,000 after buying an additional 227 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HCI. JMP Securities reiterated a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a report on Monday, September 23rd. Compass Point reduced their target price on shares of HCI Group from $130.00 to $119.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered shares of HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.00.

HCI Group Stock Up 2.0 %

Shares of HCI opened at $97.34 on Wednesday. The company’s 50-day moving average price is $98.39 and its 200 day moving average price is $100.24. HCI Group, Inc. has a 12-month low of $53.78 and a 12-month high of $121.57. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.02 billion, a P/E ratio of 9.90 and a beta of 1.13.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.63. The business had revenue of $206.25 million for the quarter, compared to the consensus estimate of $196.67 million. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. During the same period in the previous year, the firm earned $1.22 EPS. On average, sell-side analysts forecast that HCI Group, Inc. will post 12.37 earnings per share for the current year.

HCI Group Profile

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.