Allspring Global Investments Holdings LLC Reduces Position in HCI Group, Inc. $HCI

Allspring Global Investments Holdings LLC decreased its position in shares of HCI Group, Inc. (NYSE:HCI) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,206 shares of the insurance provider’s stock after selling 11,139 shares during the period. Allspring Global Investments Holdings LLC owned 0.84% of HCI Group worth $16,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HCI. Vanguard Group Inc. raised its position in HCI Group by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider’s stock valued at $160,947,000 after purchasing an additional 32,167 shares during the last quarter. State Street Corp increased its stake in HCI Group by 4.7% in the fourth quarter. State Street Corp now owns 384,788 shares of the insurance provider’s stock valued at $73,760,000 after purchasing an additional 17,299 shares during the period. Wellington Management Group LLP raised its holdings in shares of HCI Group by 16.7% in the third quarter. Wellington Management Group LLP now owns 352,935 shares of the insurance provider’s stock valued at $67,739,000 after buying an additional 50,378 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of HCI Group by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 318,536 shares of the insurance provider’s stock valued at $61,060,000 after buying an additional 22,261 shares during the last quarter. Finally, Freestone Grove Partners LP boosted its stake in shares of HCI Group by 353.6% during the fourth quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider’s stock worth $52,735,000 after buying an additional 214,464 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Price Performance

Shares of NYSE:HCI opened at $178.77 on Wednesday. HCI Group, Inc. has a 52 week low of $136.37 and a 52 week high of $210.50. The company has a 50-day moving average price of $166.65 and a 200 day moving average price of $163.10. The company has a market cap of $2.28 billion, a P/E ratio of 7.85 and a beta of 1.03. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03.

HCI Group (NYSE:HCI) last released its earnings results on Wednesday, May 6th. The insurance provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The company had revenue of $242.88 million for the quarter, compared to analysts’ expectations of $245.09 million. Research analysts predict that HCI Group, Inc. will post 18.41 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is 7.02%.

Analyst Ratings Changes

HCI has been the topic of several recent research reports. Weiss Ratings upgraded HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald started coverage on HCI Group in a research note on Thursday, July 9th. They set an “overweight” rating and a $225.00 price target for the company. Finally, Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $238.33.

HCI Group 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.