Cubist Systematic Strategies LLC Lowers Stock Position in HCI Group, Inc. (NYSE:HCI)

Cubist Systematic Strategies LLC decreased its position in HCI Group, Inc. (NYSE:HCI) by 9.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,875 shares of the insurance provider’s stock after selling 3,210 shares during the period. Cubist Systematic Strategies LLC owned about 0.29% of HCI Group worth $2,754,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HCI. New York State Teachers Retirement System lifted its position in shares of HCI Group by 1.1% during the 1st quarter. New York State Teachers Retirement System now owns 9,544 shares of the insurance provider’s stock valued at $1,108,000 after buying an additional 100 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in HCI Group by 2.9% during the second quarter. Thrivent Financial for Lutherans now owns 6,088 shares of the insurance provider’s stock valued at $561,000 after purchasing an additional 174 shares in the last quarter. Swiss National Bank lifted its holdings in HCI Group by 1.4% during the first quarter. Swiss National Bank now owns 14,400 shares of the insurance provider’s stock valued at $1,672,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its position in shares of HCI Group by 11.3% in the second quarter. Arizona State Retirement System now owns 2,234 shares of the insurance provider’s stock valued at $206,000 after purchasing an additional 227 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of HCI Group during the second quarter worth about $26,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Trading Down 1.1 %

HCI opened at $107.66 on Monday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.95 and a beta of 1.13. The company’s 50 day simple moving average is $96.21 and its two-hundred day simple moving average is $100.64. HCI Group, Inc. has a 1-year low of $52.08 and a 1-year high of $121.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, August 8th. The insurance provider reported $4.21 earnings per share 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 company had revenue of $206.25 million for the quarter, compared to analyst estimates of $196.67 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. Analysts expect that HCI Group, Inc. will post 12.37 EPS for the current fiscal year.

HCI Group Announces Dividend

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

Wall Street Analyst Weigh In

HCI has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price target on shares of HCI Group in a research note on Monday, September 23rd. StockNews.com downgraded HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.