Bank of Montreal Can lowered its stake in HCI Group, Inc. (NYSE:HCI) by 30.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,306 shares of the insurance provider’s stock after selling 19,725 shares during the period. Bank of Montreal Can owned about 0.46% of HCI Group worth $2,129,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Capstone Asset Management Co. boosted its position in shares of HCI Group by 1.0% in the second quarter. Capstone Asset Management Co. now owns 4,926 shares of the insurance provider’s stock valued at $231,000 after buying an additional 50 shares in the last quarter. Nationwide Fund Advisors boosted its position in HCI Group by 2.8% in the first quarter. Nationwide Fund Advisors now owns 6,609 shares of the insurance provider’s stock worth $301,000 after buying an additional 181 shares in the last quarter. Legal & General Group Plc boosted its position in HCI Group by 1.6% in the first quarter. Legal & General Group Plc now owns 14,147 shares of the insurance provider’s stock worth $644,000 after buying an additional 221 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in HCI Group by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,953 shares of the insurance provider’s stock worth $955,000 after buying an additional 247 shares in the last quarter. Finally, Comerica Bank boosted its position in HCI Group by 4.4% in the first quarter. Comerica Bank now owns 9,445 shares of the insurance provider’s stock worth $455,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
HCI Group, Inc. (NYSE HCI) traded down 1.63% on Friday, reaching $40.33. The company had a trading volume of 89,458 shares. The stock has a 50 day moving average price of $45.36 and a 200 day moving average price of $45.37. The stock has a market capitalization of $402.74 million, a PE ratio of 11.10 and a beta of 2.36. HCI Group, Inc. has a 52-week low of $24.35 and a 52-week high of $50.93.
HCI Group (NYSE:HCI) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The company had revenue of $67.58 million for the quarter, compared to analyst estimates of $64.33 million. HCI Group had a net margin of 13.52% and a return on equity of 15.65%. HCI Group’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. Analysts expect that HCI Group, Inc. will post $3.40 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.47%. HCI Group’s dividend payout ratio (DPR) is presently 38.36%.
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A number of research analysts recently commented on the company. BidaskClub cut HCI Group from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research cut HCI Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. SunTrust Banks, Inc. assumed coverage on HCI Group in a report on Tuesday, July 4th. They issued a “buy” rating and a $52.00 price objective on the stock. ValuEngine upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of HCI Group in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $47.67.
HCI Group Company Profile
HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.
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