Wasatch Advisors LP Sells 25,215 Shares of HCI Group, Inc. (NYSE:HCI)

Wasatch Advisors LP decreased its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,838 shares of the insurance provider’s stock after selling 25,215 shares during the quarter. Wasatch Advisors LP owned about 1.61% of HCI Group worth $18,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrature Capital Ltd raised its position in shares of HCI Group by 55.8% in the 4th quarter. Quadrature Capital Ltd now owns 29,844 shares of the insurance provider’s stock worth $2,610,000 after acquiring an additional 10,693 shares in the last quarter. Wellington Management Group LLP bought a new position in HCI Group during the fourth quarter valued at approximately $5,633,000. GSA Capital Partners LLP raised its position in shares of HCI Group by 100.6% during 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 in the last quarter. Federated Hermes Inc. bought a new position in HCI Group during the fourth quarter valued at $642,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of HCI Group in the fourth quarter worth approximately $335,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Anthony Saravanos sold 20,873 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $116.78, for a total transaction of $2,437,548.94. Following the completion of the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $3,503,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Paresh Patel purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were bought at an average cost of $114.90 per share, with a total value of $114,900.00. Following the purchase, the chief executive officer now directly owns 349,000 shares of the company’s stock, valued at $40,100,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Saravanos sold 20,873 shares of HCI Group stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $116.78, for a total transaction of $2,437,548.94. Following the sale, the insider now owns 30,000 shares of the company’s stock, valued at $3,503,400. The disclosure for this sale can be found here. Insiders own 25.25% of the company’s stock.

HCI Group Stock Up 0.3 %

Shares of NYSE:HCI opened at $92.65 on Wednesday. The firm has a 50 day simple moving average of $100.36 and a 200-day simple moving average of $99.83. HCI Group, Inc. has a twelve month low of $48.84 and a twelve month high of $121.57. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $970.92 million, a PE ratio of 9.42 and a beta of 1.13.

HCI Group (NYSE:HCI) last announced its earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share 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 business had revenue of $206.61 million during the quarter, compared to the consensus estimate of $189.17 million. On average, equities analysts predict that HCI Group, Inc. will post 11.68 EPS for the current fiscal year.

HCI Group Announces Dividend

The company 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 yield of 1.73%. The ex-dividend date of this dividend was Thursday, May 16th. HCI Group’s payout ratio is currently 16.28%.

Analysts Set New Price Targets

HCI has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target on shares of HCI Group in a research report on Friday, April 5th. JMP Securities upped their price target on HCI Group from $120.00 to $135.00 and gave the stock a “market outperform” rating in a report on Thursday, May 9th. Compass Point lifted their target price on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Finally, StockNews.com upgraded shares of HCI Group from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.