Wellington Management Group LLP Makes New $5.63 Million Investment in HCI Group, Inc. (NYSE:HCI)

Wellington Management Group LLP purchased a new position in HCI Group, Inc. (NYSE:HCI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 64,454 shares of the insurance provider’s stock, valued at approximately $5,633,000. Wellington Management Group LLP owned approximately 0.75% of HCI Group at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in HCI Group by 5.1% in the fourth quarter. Wasatch Advisors LP now owns 186,053 shares of the insurance provider’s stock worth $16,261,000 after acquiring an additional 8,992 shares in the last quarter. Quadrature Capital Ltd grew its position in HCI Group by 55.8% during the 4th quarter. Quadrature Capital Ltd now owns 29,844 shares of the insurance provider’s stock valued at $2,610,000 after purchasing an additional 10,693 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in HCI Group during the 4th quarter valued at about $399,000. Monashee Investment Management LLC purchased a new position in HCI Group in the fourth quarter worth about $1,730,000. Finally, Quest Partners LLC bought a new position in shares of HCI Group in the fourth quarter worth approximately $28,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity at HCI Group

In other news, CEO Paresh Patel bought 1,000 shares of the stock in a transaction dated Tuesday, April 9th. The stock was purchased at an average price of $114.90 per share, for a total transaction of $114,900.00. Following the acquisition, the chief executive officer now owns 349,000 shares of the company’s stock, valued at $40,100,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other HCI Group news, General Counsel Andrew L. Graham sold 29,008 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $117.01, for a total value of $3,394,226.08. Following the transaction, the general counsel now owns 21,819 shares of the company’s stock, valued at approximately $2,553,041.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paresh Patel bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average price of $114.90 per share, with a total value of $114,900.00. Following the completion of the transaction, the chief executive officer now owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 53,041 shares of company stock worth $6,195,175. Company insiders own 25.25% of the company’s stock.

Wall Street Analyst Weigh In

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

HCI Group Stock Up 0.7 %

Shares of HCI stock opened at $92.17 on Friday. The company’s fifty day simple moving average is $101.22 and its two-hundred day simple moving average is $99.65. HCI Group, Inc. has a 52 week low of $48.84 and a 52 week high of $121.57. The stock has a market cap of $965.94 million, a P/E ratio of 9.38 and a beta of 1.11. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.46.

HCI Group (NYSE:HCI) last issued its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.91. HCI Group had a return on equity of 40.30% and a net margin of 17.72%. The business had revenue of $206.61 million for the quarter, compared to analysts’ expectations of $189.17 million. Analysts predict that HCI Group, Inc. will post 11.68 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 17th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Thursday, May 16th. HCI Group’s dividend payout ratio is currently 16.28%.

HCI Group Company 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.