Arizona State Retirement System lowered its stake in shares of HCI Group Inc (NYSE:HCI) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,964 shares of the insurance provider’s stock after selling 1,553 shares during the quarter. Arizona State Retirement System owned 0.12% of HCI Group worth $456,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in shares of HCI Group by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 60,733 shares of the insurance provider’s stock valued at $2,318,000 after buying an additional 1,441 shares during the last quarter. American Research & Management Co. lifted its position in shares of HCI Group by 4.5% during the 2nd quarter. American Research & Management Co. now owns 35,700 shares of the insurance provider’s stock valued at $1,484,000 after buying an additional 1,550 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of HCI Group during the 2nd quarter valued at $174,000. GSA Capital Partners LLP lifted its position in shares of HCI Group by 52.2% during the 1st quarter. GSA Capital Partners LLP now owns 13,700 shares of the insurance provider’s stock valued at $523,000 after buying an additional 4,700 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in HCI Group by 36.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 18,800 shares of the insurance provider’s stock worth $718,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 68.22% of the company’s stock.
Separately, Zacks Investment Research cut HCI Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th.
HCI traded down $0.52 during trading on Monday, reaching $45.12. 40,200 shares of the company were exchanged, compared to its average volume of 82,781. The stock has a market capitalization of $406.20 million, a price-to-earnings ratio of -60.85 and a beta of 1.54. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.66 and a current ratio of 0.66. HCI Group Inc has a 12-month low of $28.70 and a 12-month high of $46.10.
HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $58.81 million for the quarter, compared to analysts’ expectations of $59.59 million. HCI Group had a negative return on equity of 4.23% and a negative net margin of 4.99%. On average, research analysts forecast that HCI Group Inc will post 3.91 earnings per share for the current fiscal year.
About HCI Group
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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