Northern Trust Corp Reduces Stake in HCI Group Inc (HCI)

Northern Trust Corp lowered its position in shares of HCI Group Inc (NYSE:HCI) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,017 shares of the insurance provider’s stock after selling 1,288 shares during the quarter. Northern Trust Corp owned about 1.00% of HCI Group worth $4,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HCI. WINTON GROUP Ltd acquired a new stake in shares of HCI Group during the fourth quarter worth $3,476,000. Credit Suisse AG lifted its holdings in shares of HCI Group by 824.8% during the third quarter. Credit Suisse AG now owns 59,056 shares of the insurance provider’s stock worth $2,584,000 after buying an additional 52,670 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of HCI Group by 87.7% during the third quarter. Renaissance Technologies LLC now owns 91,219 shares of the insurance provider’s stock worth $3,991,000 after buying an additional 42,619 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of HCI Group during the fourth quarter worth $1,031,000. Finally, BlackRock Inc. lifted its holdings in shares of HCI Group by 1.8% during the third quarter. BlackRock Inc. now owns 1,130,908 shares of the insurance provider’s stock worth $49,477,000 after buying an additional 19,587 shares in the last quarter. 64.38% of the stock is owned by institutional investors.

In other HCI Group news, CEO Paresh Patel bought 7,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $41.20 per share, for a total transaction of $288,400.00. Following the completion of the transaction, the chief executive officer now directly owns 103,000 shares in the company, valued at approximately $4,243,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Politis bought 4,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was acquired at an average price of $40.91 per share, for a total transaction of $163,640.00. Following the transaction, the director now owns 206,000 shares of the company’s stock, valued at $8,427,460. The disclosure for this purchase can be found here. 22.31% of the stock is owned by insiders.

HCI stock opened at $42.14 on Friday. The stock has a market capitalization of $355.01 million, a P/E 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. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.70 and a quick ratio of 0.70.

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

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

HCI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised HCI Group from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $52.00 to $42.00 in a research note on Sunday, March 10th. Zacks Investment Research raised HCI Group from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Wednesday, January 30th. Finally, ValuEngine downgraded HCI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.33.

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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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