The Manufacturers Life Insurance Company Buys 658 Shares of HCI Group, Inc. (NYSE:HCI)

The Manufacturers Life Insurance Company grew its stake in shares of HCI Group, Inc. (NYSE:HCI) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,130 shares of the insurance provider’s stock after purchasing an additional 658 shares during the period. The Manufacturers Life Insurance Company’s holdings in HCI Group were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in HCI Group by 10.7% in the second quarter. Millennium Management LLC now owns 97,156 shares of the insurance provider’s stock worth $8,955,000 after buying an additional 9,398 shares during the period. MBB Public Markets I LLC purchased a new position in shares of HCI Group in the 2nd quarter valued at approximately $235,000. Dark Forest Capital Management LP bought a new stake in shares of HCI Group during the second quarter valued at approximately $249,000. Deerfield Management Company L.P. Series C boosted its position in shares of HCI Group by 193.7% during the second quarter. Deerfield Management Company L.P. Series C now owns 9,779 shares of the insurance provider’s stock valued at $901,000 after purchasing an additional 6,449 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in HCI Group by 27.2% in the second quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock worth $4,905,000 after purchasing an additional 11,365 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on HCI. JMP Securities reissued a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research report on Tuesday. Compass Point dropped their price objective on shares of HCI Group from $130.00 to $119.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.00.

HCI Group Price Performance

Shares of NYSE:HCI opened at $116.77 on Friday. The business has a fifty day moving average price of $101.51 and a 200-day moving average price of $100.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $1.22 billion, a PE ratio of 11.88 and a beta of 1.13. HCI Group, Inc. has a 1-year low of $55.83 and a 1-year high of $121.57.

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, beating analysts’ consensus estimates of $3.58 by $0.63. The business 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 period last year, the business earned $1.22 EPS. As a group, equities analysts expect that HCI Group, Inc. will post 12.56 EPS for the current fiscal year.

HCI Group Company Profile

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.