Cubist Systematic Strategies LLC Buys Shares of 15,435 HCI Group Inc (HCI)

Cubist Systematic Strategies LLC bought a new stake in shares of HCI Group Inc (NYSE:HCI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,435 shares of the insurance provider’s stock, valued at approximately $590,000. Cubist Systematic Strategies LLC owned about 0.16% of HCI Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HCI. IFP Advisors Inc bought a new position in shares of HCI Group during the 2nd quarter valued at approximately $101,000. Legal & General Group Plc lifted its position in HCI Group by 4.5% in the second quarter. Legal & General Group Plc now owns 14,790 shares of the insurance provider’s stock worth $695,000 after buying an additional 643 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in HCI Group by 42.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,453 shares of the insurance provider’s stock worth $115,000 after buying an additional 731 shares during the last quarter. Federated Investors Inc. PA lifted its position in HCI Group by 42.6% in the second quarter. Federated Investors Inc. PA now owns 63,411 shares of the insurance provider’s stock worth $2,979,000 after buying an additional 18,929 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in HCI Group by 1.2% in the second quarter. Virginia Retirement Systems ET AL now owns 17,300 shares of the insurance provider’s stock worth $813,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.

Shares of HCI Group Inc (NYSE HCI) opened at $29.15 on Wednesday. The stock has a market capitalization of $283.97, a price-to-earnings ratio of -15.42 and a beta of 2.18. HCI Group Inc has a 52-week low of $27.11 and a 52-week high of $50.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.61 and a quick ratio of 0.61.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($4.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.52) by ($1.92). HCI Group had a negative return on equity of 6.34% and a negative net margin of 5.63%. The business had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $66.46 million. During the same quarter in the previous year, the business earned $1.10 EPS. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. analysts anticipate that HCI Group Inc will post -0.4 EPS for the current year.

HCI Group announced that its board has authorized a share repurchase program on Wednesday, December 6th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.40 dividend on an annualized basis and a yield of 4.80%. HCI Group’s payout ratio is -74.07%.

In other HCI Group news, Director James J. Macchiarola bought 6,000 shares of HCI Group stock in a transaction on Monday, November 27th. The shares were acquired at an average price of $30.44 per share, for a total transaction of $182,640.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Politis bought 2,000 shares of HCI Group stock in a transaction on Monday, December 18th. The stock was acquired at an average price of $29.97 per share, for a total transaction of $59,940.00. Following the purchase, the director now owns 194,000 shares of the company’s stock, valued at $5,814,180. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 13,000 shares of company stock worth $391,360. Insiders own 20.37% of the company’s stock.

A number of analysts recently issued reports on the company. ValuEngine upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. TheStreet downgraded HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Sidoti upgraded HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, September 11th. Finally, Zacks Investment Research upgraded HCI Group from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.33.

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About HCI Group

HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.

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

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