BlackRock Inc. raised its position in shares of Homeowners Choice Inc (NYSE:HCI) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,077,636 shares of the insurance provider’s stock after acquiring an additional 26,015 shares during the period. BlackRock Inc. owned approximately 0.11% of Homeowners Choice worth $32,220,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of HCI. Arizona State Retirement System purchased a new stake in Homeowners Choice during the fourth quarter valued at about $398,000. Wells Fargo & Company MN grew its position in Homeowners Choice by 15.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,713 shares of the insurance provider’s stock valued at $469,000 after acquiring an additional 2,137 shares during the period. Rhumbline Advisers grew its position in Homeowners Choice by 14.0% during the fourth quarter. Rhumbline Advisers now owns 18,558 shares of the insurance provider’s stock valued at $555,000 after acquiring an additional 2,275 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Homeowners Choice during the third quarter valued at about $590,000. Finally, Wedge Capital Management L L P NC grew its position in Homeowners Choice by 72.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 23,800 shares of the insurance provider’s stock valued at $712,000 after acquiring an additional 10,000 shares during the period. 70.44% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE HCI opened at $38.46 on Thursday. Homeowners Choice Inc has a 1-year low of $27.11 and a 1-year high of $49.25. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $362.81, a PE ratio of -51.99 and a beta of 1.88.
The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 16th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Thursday, February 15th. Homeowners Choice’s payout ratio is -186.67%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Homeowners Choice from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. TheStreet raised Homeowners Choice from a “c” rating to a “b-” rating in a research report on Tuesday, March 6th. Finally, ValuEngine raised Homeowners Choice from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $44.00.
Homeowners Choice Company Profile
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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