Optimist Retirement Group LLC Buys 551 Shares of HCI Group, Inc. (NYSE:HCI)

Optimist Retirement Group LLC raised its stake in shares of HCI Group, Inc. (NYSE:HCI) by 29.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,442 shares of the insurance provider’s stock after purchasing an additional 551 shares during the quarter. Optimist Retirement Group LLC’s holdings in HCI Group were worth $225,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in HCI. Quest Partners LLC bought a new position in shares of HCI Group in the 4th quarter worth approximately $28,000. Gladius Capital Management LP bought a new position in shares of HCI Group in the 2nd quarter worth approximately $31,000. CWM LLC lifted its stake in shares of HCI Group by 115.4% in the 2nd quarter. CWM LLC now owns 924 shares of the insurance provider’s stock worth $85,000 after purchasing an additional 495 shares during the period. Arizona State Retirement System lifted its stake in shares of HCI Group by 11.3% in the 2nd quarter. Arizona State Retirement System now owns 2,234 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 227 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of HCI Group in the 2nd quarter worth approximately $217,000. Institutional investors own 86.99% of the company’s stock.

HCI Group Trading Up 0.9 %

HCI Group stock opened at $106.80 on Thursday. The firm has a 50 day moving average of $93.84 and a 200 day moving average of $100.53. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.86 and a beta of 1.13. HCI Group, Inc. has a 12-month low of $50.01 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.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.63. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. The company had revenue of $206.25 million during the quarter, compared to analyst estimates of $196.67 million. During the same period in the prior year, the firm posted $1.22 EPS. As a group, research analysts predict that HCI Group, Inc. will post 12.37 earnings per share for the current year.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, August 16th. HCI Group’s dividend payout ratio (DPR) is currently 16.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. JMP Securities increased their target price on shares of HCI Group from $135.00 to $145.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.25.

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.