CX Institutional Takes Position in HCI Group, Inc. $HCI

CX Institutional bought a new position in HCI Group, Inc. (NYSE:HCI) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 41,633 shares of the insurance provider’s stock, valued at approximately $7,991,000. CX Institutional owned 0.32% of HCI Group as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HCI. EverSource Wealth Advisors LLC boosted its stake in HCI Group by 557.6% during the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after buying an additional 184 shares during the period. Global Assets Advisory LLC purchased a new position in shares of HCI Group during the 2nd quarter worth about $46,000. USA Financial Formulas grew its holdings in HCI Group by 250.0% during the 2nd quarter. USA Financial Formulas now owns 518 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 370 shares during the last quarter. Caldwell Trust Co purchased a new stake in HCI Group in the 2nd quarter worth about $83,000. Finally, Global Retirement Partners LLC raised its position in HCI Group by 1,664.9% in the 3rd quarter. Global Retirement Partners LLC now owns 653 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 616 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

HCI has been the subject of several recent analyst reports. Citizens Jmp boosted their target price on HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a research report on Monday, November 10th. Truist Financial boosted their price objective on HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 7th. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Oppenheimer lowered shares of HCI Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of HCI Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $230.00.

HCI Group Stock Performance

HCI stock opened at $173.53 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.80. HCI Group, Inc. has a 1-year low of $109.43 and a 1-year high of $210.50. The business has a 50-day moving average price of $184.26 and a 200 day moving average price of $172.49. The company has a market capitalization of $2.25 billion, a P/E ratio of 11.08 and a beta of 1.20.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 EPS for the quarter, beating the consensus estimate of $2.44 by $2.46. HCI Group had a net margin of 24.97% and a return on equity of 31.18%. The business had revenue of $216.35 million during the quarter, compared to analyst estimates of $223.53 million. As a group, equities research analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The business also recently announced 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. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, November 21st. HCI Group’s dividend payout ratio (DPR) is 10.22%.

About HCI Group

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.