Mackay Shields LLC Invests $864,000 in HCI Group Inc (NYSE:HCI)

Mackay Shields LLC bought a new position in HCI Group Inc (NYSE:HCI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,000 shares of the insurance provider’s stock, valued at approximately $864,000. Mackay Shields LLC owned about 0.19% of HCI Group at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in HCI Group by 4.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the insurance provider’s stock valued at $534,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System boosted its stake in HCI Group by 4.9% during the 4th quarter. Arizona State Retirement System now owns 11,163 shares of the insurance provider’s stock valued at $567,000 after purchasing an additional 524 shares during the period. Legal & General Group Plc boosted its stake in HCI Group by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 15,594 shares of the insurance provider’s stock valued at $680,000 after purchasing an additional 576 shares during the period. Great West Life Assurance Co. Can boosted its stake in HCI Group by 9.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 10,360 shares of the insurance provider’s stock valued at $486,000 after purchasing an additional 917 shares during the period. Finally, Quantamental Technologies LLC bought a new stake in HCI Group during the 4th quarter valued at approximately $56,000. 64.38% of the stock is currently owned by institutional investors.

Shares of HCI Group stock traded up $0.44 during midday trading on Friday, hitting $42.14. 36,242 shares of the company were exchanged, compared to its average volume of 71,874. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $361.80 million, a PE ratio of 13.05 and a beta of 0.86. HCI Group Inc has a 52 week low of $36.72 and a 52 week high of $59.32.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, March 7th. The insurance provider reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.08). HCI Group had a net margin of 8.14% and a return on equity of 13.68%. The business had revenue of $53.00 million for the quarter, compared to analyst estimates of $60.31 million. Equities analysts anticipate that HCI Group Inc will post 4.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 3.80%. HCI Group’s dividend payout ratio is 49.54%.

Several analysts recently weighed in on HCI shares. Zacks Investment Research upgraded HCI Group from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, January 11th. TheStreet downgraded HCI Group from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Finally, ValuEngine downgraded HCI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. HCI Group has a consensus rating of “Hold” and an average price target of $48.33.

In related news, Director Gregory Politis acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was acquired at an average cost of $40.91 per share, with a total value of $163,640.00. Following the completion of the purchase, the director now directly owns 206,000 shares in the company, valued at $8,427,460. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paresh Patel acquired 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average cost of $41.20 per share, with a total value of $288,400.00. Following the completion of the purchase, the chief executive officer now owns 103,000 shares of the company’s stock, valued at $4,243,600. The disclosure for this purchase can be found here. Company insiders own 22.31% of the company’s stock.

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HCI Group Company Profile

HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.

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Institutional Ownership by Quarter for HCI Group (NYSE:HCI)

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