Driehaus Capital Management LLC Sells 6,994 Shares of HCI Group, Inc. (NYSE:HCI)

Driehaus Capital Management LLC reduced its position in HCI Group, Inc. (NYSE:HCI) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 668,231 shares of the insurance provider’s stock after selling 6,994 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.06% of HCI Group worth $61,591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new stake in HCI Group during the second quarter valued at approximately $26,000. Quest Partners LLC bought a new position in shares of HCI Group during the 4th quarter worth approximately $28,000. Gladius Capital Management LP acquired a new stake in HCI Group in the 2nd quarter valued at $31,000. CWM LLC grew its position in 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 acquiring an additional 495 shares during the period. Finally, Intech Investment Management LLC acquired a new position in HCI Group during the second quarter worth $201,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Stock Down 1.1 %

Shares of HCI opened at $107.68 on Friday. The business’s fifty day moving average price is $95.83 and its two-hundred day moving average price is $100.75. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.95 and a beta of 1.13. HCI Group, Inc. has a 52 week low of $52.08 and a 52 week high of $121.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.44.

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

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, August 16th. HCI Group’s dividend payout ratio is currently 16.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HCI shares. JMP Securities restated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Monday, September 23rd. StockNews.com downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. One 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 currently has a consensus 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.