Marshall Wace LLP Sells 3,777 Shares of HCI Group, Inc. (NYSE:HCI)

Marshall Wace LLP trimmed its position in HCI Group, Inc. (NYSE:HCI) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,188 shares of the insurance provider’s stock after selling 3,777 shares during the quarter. Marshall Wace LLP owned 0.97% of HCI Group worth $9,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of HCI Group in the 2nd quarter valued at $31,000. CWM LLC lifted its holdings in shares of HCI Group by 115.4% in the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 495 shares during the last quarter. Intech Investment Management LLC bought a new position in HCI Group in the 2nd quarter valued at approximately $201,000. Arizona State Retirement System lifted its stake in HCI Group by 11.3% in the 2nd 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 last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in HCI Group in the second quarter valued at approximately $217,000. 86.99% of the stock is owned by institutional investors.

HCI Group Price Performance

Shares of NYSE:HCI opened at $107.66 on Monday. 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, Inc. has a 52 week low of $52.08 and a 52 week high of $121.57. The firm has a market cap of $1.13 billion, a PE ratio of 10.95 and a beta of 1.13. The firm’s fifty day moving average is $96.21 and its 200-day moving average is $100.64.

HCI Group (NYSE:HCI) last announced its earnings results on Thursday, August 8th. The insurance provider reported $4.21 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $196.67 million. During the same period in the previous year, the business earned $1.22 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 16th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.49%. HCI Group’s payout ratio is 16.28%.

Analyst Ratings Changes

A number of brokerages have recently commented on HCI. StockNews.com cut HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.