Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in HCI Group, Inc. (NYSE:HCI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in HCI Group, Inc. (NYSE:HCI) by 399.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,773 shares of the insurance provider’s stock after acquiring an additional 1,418 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HCI Group were worth $155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of HCI. GSA Capital Partners LLP grew its stake in shares of HCI Group by 100.6% during the 3rd quarter. GSA Capital Partners LLP now owns 21,527 shares of the insurance provider’s stock worth $1,169,000 after purchasing an additional 10,797 shares during the period. Quadrature Capital Ltd raised its position in shares of HCI Group by 253.1% in the third quarter. Quadrature Capital Ltd now owns 19,151 shares of the insurance provider’s stock worth $1,039,000 after acquiring an additional 13,728 shares during the period. Barclays PLC boosted its stake in shares of HCI Group by 54.7% during the 3rd quarter. Barclays PLC now owns 4,962 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 1,754 shares in the last quarter. Cedar Brook Financial Partners LLC acquired a new stake in shares of HCI Group during the 4th quarter valued at about $201,000. Finally, Hsbc Holdings PLC purchased a new position in shares of HCI Group in the 3rd quarter valued at about $482,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Price Performance

Shares of NYSE HCI opened at $115.78 on Thursday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.31 and a beta of 1.15. HCI Group, Inc. has a 52 week low of $48.84 and a 52 week high of $121.57. The firm has a 50-day simple moving average of $111.77 and a 200-day simple moving average of $94.24. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. The company had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, 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 disclosed 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 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 16th. HCI Group’s dividend payout ratio (DPR) is currently 21.16%.

Wall Street Analyst Weigh In

Several brokerages have commented on HCI. Compass Point raised their price objective on HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Oppenheimer reissued an “outperform” rating and issued a $140.00 price target on shares of HCI Group in a report on Friday, April 5th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of HCI Group in a research report on Monday, April 15th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Finally, Truist Financial lifted their price objective on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, HCI Group has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Insider Buying and Selling at HCI Group

In other news, General Counsel Andrew L. Graham sold 800 shares of HCI Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares in the company, valued at approximately $6,709,284.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were 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 $6,709,284.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Mark Harmsworth sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the completion of the transaction, the chief financial officer now owns 15,420 shares in the company, valued at $1,805,990.40. The disclosure for this sale can be found here. Insiders sold a total of 113,102 shares of company stock worth $13,198,303 in the last three months. 25.25% of the stock is owned by corporate insiders.

About HCI Group

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.