UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in HCI Group, Inc. (NYSE:HCI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of HCI Group, Inc. (NYSE:HCI) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,788 shares of the insurance provider’s stock after selling 1,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of HCI Group worth $2,654,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of HCI Group by 153.6% during the 2nd quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider’s stock worth $860,000 after buying an additional 5,649 shares in the last quarter. Victory Capital Management Inc. grew its holdings in HCI Group by 152.7% during the third quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock worth $2,380,000 after acquiring an additional 13,434 shares during the period. Royce & Associates LP purchased a new position in HCI Group in the third quarter worth $621,000. AQR Capital Management LLC lifted its holdings in HCI Group by 27.2% in the second quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock valued at $4,905,000 after acquiring an additional 11,365 shares during the period. Finally, BOKF NA purchased a new stake in shares of HCI Group during the 2nd quarter worth $533,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Stock Performance

Shares of HCI opened at $114.24 on Friday. HCI Group, Inc. has a 12-month low of $81.35 and a 12-month high of $126.50. The stock has a market cap of $1.20 billion, a P/E ratio of 9.54 and a beta of 1.11. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $114.00 and a two-hundred day moving average of $101.93.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. HCI Group’s dividend payout ratio is currently 13.37%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HCI shares. Truist Financial increased their price target on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 8th. Compass Point reiterated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Oppenheimer upped their price target on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.00.

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.