Suncoast Equity Management Reduces Stock Position in HCI Group, Inc. (NYSE:HCI)

Suncoast Equity Management lowered its stake in shares of HCI Group, Inc. (NYSE:HCI) by 28.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,075 shares of the insurance provider’s stock after selling 840 shares during the period. Suncoast Equity Management’s holdings in HCI Group were worth $222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HCI. Thrivent Financial for Lutherans raised its holdings in shares of HCI Group by 2.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,088 shares of the insurance provider’s stock valued at $561,000 after buying an additional 174 shares during the period. GAMMA Investing LLC grew its position in HCI Group by 80.9% in the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 178 shares in the last quarter. Swiss National Bank increased its stake in HCI Group by 1.4% during the first quarter. Swiss National Bank now owns 14,400 shares of the insurance provider’s stock worth $1,672,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System lifted its position in shares of HCI Group by 11.3% during the second quarter. Arizona State Retirement System now owns 2,234 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 227 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of HCI Group in the second quarter valued at approximately $26,000. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Trading Down 3.6 %

Shares of HCI traded down $4.36 during trading hours on Monday, hitting $115.50. The stock had a trading volume of 53,820 shares, compared to its average volume of 146,287. HCI Group, Inc. has a 12-month low of $55.83 and a 12-month high of $121.57. The firm has a market cap of $1.21 billion, a P/E ratio of 12.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.44. The company’s fifty day simple moving average is $102.07 and its 200 day simple moving average is $100.08.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, August 8th. The insurance provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.63. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. The company had revenue of $206.25 million during the quarter, compared to the consensus estimate of $196.67 million. During the same period in the previous year, the firm earned $1.22 earnings per share. Equities research analysts forecast that HCI Group, Inc. will post 12.56 EPS for the current fiscal year.

Analyst Ratings Changes

HCI has been the topic of several analyst reports. StockNews.com cut HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $145.00 target price on shares of HCI Group in a research report on Tuesday, October 15th. Finally, Compass Point reaffirmed a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a report on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, HCI Group currently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

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.