Assenagon Asset Management S.A. Decreases Stock Holdings in HCI Group, Inc. $HCI

Assenagon Asset Management S.A. reduced its position in HCI Group, Inc. (NYSE:HCI) by 58.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,470 shares of the insurance provider’s stock after selling 28,472 shares during the period. Assenagon Asset Management S.A. owned 0.16% of HCI Group worth $3,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Planning grew its position in HCI Group by 0.3% during the 2nd quarter. Creative Planning now owns 52,191 shares of the insurance provider’s stock worth $7,943,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of HCI Group by 24.5% during the second quarter. GAMMA Investing LLC now owns 742 shares of the insurance provider’s stock worth $113,000 after buying an additional 146 shares during the period. Anchor Capital Advisors LLC lifted its stake in shares of HCI Group by 10.5% during the second quarter. Anchor Capital Advisors LLC now owns 1,575 shares of the insurance provider’s stock worth $240,000 after buying an additional 150 shares during the period. NewEdge Advisors LLC grew its stake in HCI Group by 5.8% during the 2nd quarter. NewEdge Advisors LLC now owns 2,750 shares of the insurance provider’s stock valued at $419,000 after purchasing an additional 150 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in HCI Group by 9.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,931 shares of the insurance provider’s stock valued at $294,000 after buying an additional 168 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

HCI Group Stock Up 1.9%

HCI Group stock opened at $193.47 on Tuesday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 12.35 and a beta of 1.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04. HCI Group, Inc. has a twelve month low of $106.89 and a twelve month high of $210.50. The stock’s fifty day simple moving average is $186.97 and its 200-day simple moving average is $169.84.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a net margin of 24.97% and a return on equity of 31.18%. The firm had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. As a group, equities analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. HCI Group’s dividend payout ratio is presently 10.22%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer cut shares of HCI Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 13th. Citizens Jmp lifted their price target on shares of HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of HCI Group in a research note on Monday, December 15th. Truist Financial raised their price target on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $230.00.

HCI Group Company Profile

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.