Teacher Retirement System of Texas Makes New Investment in HCI Group, Inc. (NYSE:HCI)

Teacher Retirement System of Texas acquired a new position in shares of HCI Group, Inc. (NYSE:HCI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,675 shares of the insurance provider’s stock, valued at approximately $671,000.

A number of other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in HCI Group by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 16,100 shares of the insurance provider’s stock valued at $874,000 after purchasing an additional 304 shares during the period. Assenagon Asset Management S.A. bought a new position in HCI Group during the 3rd quarter worth $2,885,000. Illinois Municipal Retirement Fund acquired a new stake in shares of HCI Group during the third quarter worth $233,000. Barclays PLC boosted its position in shares of HCI Group by 54.7% in the third quarter. Barclays PLC now owns 4,962 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 1,754 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of HCI Group in the third quarter valued at about $62,000. Institutional investors own 86.99% of the company’s stock.

HCI Group Stock Performance

Shares of NYSE:HCI opened at $96.82 on Friday. HCI Group, Inc. has a 1 year low of $48.84 and a 1 year high of $121.57. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.85 and a beta of 1.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.61. The company’s 50 day simple moving average is $110.74 and its 200 day simple moving average is $97.49.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $1.81. HCI Group had a return on equity of 40.30% and a net margin of 17.72%. The company had revenue of $162.67 million for the quarter, compared to analyst estimates of $146.09 million. During the same quarter last year, the company posted $0.06 EPS. As a group, research analysts predict that HCI Group, Inc. will post 11.68 EPS for the current fiscal year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, May 16th. HCI Group’s payout ratio is 16.28%.

Insider Transactions at HCI Group

In related news, Director Sanjay Madhu sold 3,294 shares of HCI Group stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $118.72, for a total transaction of $391,063.68. Following the sale, the director now directly owns 71,706 shares of the company’s stock, valued at approximately $8,512,936.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sanjay Madhu sold 3,294 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total transaction of $391,063.68. Following the sale, the director now owns 71,706 shares of the company’s stock, valued at approximately $8,512,936.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paresh Patel bought 500 shares of the stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $111.00 per share, with a total value of $55,500.00. Following the acquisition, the chief executive officer now owns 349,500 shares in the company, valued at $38,794,500. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on HCI. Compass Point lifted their price objective on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price target on shares of HCI Group in a research report on Friday, April 5th. William Blair raised HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. JMP Securities lifted their price objective on HCI Group from $120.00 to $135.00 and gave the company a “market outperform” rating in a report on Thursday, May 9th. Finally, StockNews.com raised HCI Group from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, HCI Group presently has an average rating of “Buy” and an average target price of $127.75.

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.