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

Suncoast Equity Management trimmed its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 28.8% during the third quarter, according to the company in 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 quarter. Suncoast Equity Management’s holdings in HCI Group were worth $222,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in HCI Group in the 2nd quarter valued at about $26,000. Gladius Capital Management LP purchased a new position in HCI Group during the second quarter valued at approximately $31,000. GAMMA Investing LLC raised its holdings in shares of HCI Group by 80.9% during the third quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 178 shares in the last quarter. CWM LLC boosted its position in HCI Group by 115.4% during the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 495 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in HCI Group in the second quarter valued at about $201,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Compass Point reiterated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of HCI Group in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Finally, StockNews.com lowered shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.25.

HCI Group Stock Performance

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

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 the consensus estimate of $3.58 by $0.63. The company had revenue of $206.25 million for the quarter, compared to analyst estimates of $196.67 million. HCI Group had a return on equity of 44.01% and a net margin of 21.63%. During the same period in the prior year, the company posted $1.22 EPS. Research analysts expect that HCI Group, Inc. will post 12.56 earnings per share for the current 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.