SG Americas Securities LLC Acquires New Shares in HCI Group, Inc. (NYSE:HCI)

SG Americas Securities LLC acquired a new stake in shares of HCI Group, Inc. (NYSE:HCI) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,774 shares of the insurance provider’s stock, valued at approximately $155,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HCI. Wasatch Advisors LP bought a new stake in shares of HCI Group during the 1st quarter valued at $8,558,000. Bank of America Corp DE increased its stake in HCI Group by 859.9% in the 1st quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider’s stock worth $5,983,000 after acquiring an additional 99,992 shares during the last quarter. Millennium Management LLC increased its stake in HCI Group by 160.2% in the 2nd quarter. Millennium Management LLC now owns 139,280 shares of the insurance provider’s stock worth $9,438,000 after acquiring an additional 85,759 shares during the last quarter. Portolan Capital Management LLC bought a new position in HCI Group in the 1st quarter worth about $5,815,000. Finally, Assenagon Asset Management S.A. bought a new position in HCI Group in the 3rd quarter worth about $2,885,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity at HCI Group

In related news, General Counsel Andrew L. Graham sold 800 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the completion of the sale, the general counsel now directly owns 57,630 shares in the company, valued at approximately $6,709,284.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other HCI Group news, CEO Paresh Patel purchased 1,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was acquired at an average price of $114.90 per share, with a total value of $114,900.00. Following the transaction, the chief executive officer now directly owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew L. Graham sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total value of $93,136.00. Following the transaction, the general counsel now directly owns 57,630 shares of the company’s stock, valued at approximately $6,709,284.60. The disclosure for this sale can be found here. Insiders sold 113,102 shares of company stock worth $13,198,303 in the last ninety days. 25.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HCI has been the topic of a number of research analyst reports. Truist Financial upped their target price on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. JMP Securities restated a “market outperform” rating and issued a $120.00 target price on shares of HCI Group in a research note on Monday. Oppenheimer restated an “outperform” rating and issued a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th. Finally, Compass Point upped their price objective on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

HCI Group Price Performance

HCI opened at $110.22 on Tuesday. The stock has a 50-day moving average price of $106.02 and a 200-day moving average price of $87.75. HCI Group, Inc. has a 12-month low of $48.08 and a 12-month high of $121.57. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.10 billion, a P/E ratio of 14.58 and a beta of 1.14.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.41 by $1.81. The company had revenue of $162.67 million during the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same period in the prior year, the business posted $0.06 EPS. Equities analysts predict that HCI Group, Inc. will post 10.33 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, February 15th. HCI Group’s dividend payout ratio is presently 21.16%.

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.