Deerfield Management Company L.P. Series C Boosts Position in HCI Group, Inc. (NYSE:HCI)

Deerfield Management Company L.P. Series C raised its position in HCI Group, Inc. (NYSE:HCI) by 193.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,779 shares of the insurance provider’s stock after acquiring an additional 6,449 shares during the quarter. Deerfield Management Company L.P. Series C owned approximately 0.09% of HCI Group worth $901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Khrom Capital Management LLC lifted its stake in shares of HCI Group by 225.3% in the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock worth $54,123,000 after purchasing an additional 406,698 shares during the period. Wellington Management Group LLP bought a new position in HCI Group in the fourth quarter worth approximately $5,633,000. American Century Companies Inc. grew its stake in shares of HCI Group by 130.5% during the 2nd quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock valued at $10,164,000 after acquiring an additional 62,438 shares during the period. Hood River Capital Management LLC increased its holdings in HCI Group by 6.3% in the 2nd quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider’s stock worth $70,745,000 after acquiring an additional 45,668 shares in the last quarter. Finally, West Coast Financial LLC bought a new stake in HCI Group during the 2nd quarter worth approximately $3,407,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HCI shares. JMP Securities restated a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research report on Monday. StockNews.com cut shares of HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.25.

HCI Group Stock Performance

HCI stock opened at $108.91 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 11.08 and a beta of 1.13. HCI Group, Inc. has a twelve month low of $52.01 and a twelve month high of $121.57. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $95.45 and its two-hundred day simple moving average is $100.70.

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

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, August 16th. HCI Group’s dividend payout ratio (DPR) is presently 16.28%.

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.