Janney Montgomery Scott LLC Cuts Position in HCI Group, Inc. (NYSE:HCI)

Janney Montgomery Scott LLC trimmed its position in HCI Group, Inc. (NYSE:HCI) by 63.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,735 shares of the insurance provider’s stock after selling 13,511 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of HCI Group worth $828,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in shares of HCI Group by 1.5% in the 3rd quarter. New York State Teachers Retirement System now owns 10,393 shares of the insurance provider’s stock worth $1,113,000 after purchasing an additional 155 shares during the period. Bernzott Capital Advisors raised its holdings in shares of HCI Group by 8.0% during the 3rd quarter. Bernzott Capital Advisors now owns 84,357 shares of the insurance provider’s stock valued at $9,031,000 after buying an additional 6,237 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of HCI Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of HCI Group by 11.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,815 shares of the insurance provider’s stock valued at $515,000 after buying an additional 510 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of HCI Group by 10.8% during the 3rd quarter. Louisiana State Employees Retirement System now owns 4,100 shares of the insurance provider’s stock valued at $439,000 after buying an additional 400 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HCI. StockNews.com downgraded HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Oppenheimer raised their target price on HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Truist Financial raised their target price on HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Finally, Compass Point restated a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Price Performance

Shares of NYSE HCI opened at $111.98 on Monday. HCI Group, Inc. has a fifty-two week low of $78.83 and a fifty-two week high of $124.00. The business has a 50 day moving average price of $110.17 and a two-hundred day moving average price of $100.45. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.18 billion, a PE ratio of 9.36 and a beta of 1.12.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.43%. HCI Group’s payout ratio is 13.37%.

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.