Oppenheimer & Co. Inc. Invests $370,000 in HCI Group, Inc. (NYSE:HCI)

Oppenheimer & Co. Inc. acquired a new position in HCI Group, Inc. (NYSE:HCI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,453 shares of the insurance provider’s stock, valued at approximately $370,000.

A number of other institutional investors have also modified their holdings of HCI. Hood River Capital Management LLC increased its stake in shares of HCI Group by 6.3% during the second quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider’s stock worth $70,745,000 after buying an additional 45,668 shares during the period. Khrom Capital Management LLC grew its position in HCI Group by 225.3% in the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock valued at $54,123,000 after buying an additional 406,698 shares during the last quarter. Vanguard Group Inc. boosted its holdings in HCI Group by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock valued at $58,034,000 after purchasing an additional 31,234 shares in the last quarter. Dimensional Fund Advisors LP raised its position in HCI Group by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 339,951 shares of the insurance provider’s stock worth $31,333,000 after acquiring an additional 17,077 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in HCI Group by 130.5% during the second quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock worth $10,164,000 after buying an additional 62,438 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HCI. Truist Financial increased their price objective on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com lowered shares of HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Oppenheimer boosted their price objective on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Compass Point restated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. Finally, JMP Securities restated a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research note 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’s stock. According to MarketBeat, HCI Group presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Trading Up 2.1 %

Shares of NYSE HCI opened at $110.26 on Friday. The stock’s 50 day simple moving average is $110.88 and its 200 day simple moving average is $100.38. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 9.21 and a beta of 1.12. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. HCI Group, Inc. has a 12-month low of $81.35 and a 12-month high of $124.00.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. HCI Group’s dividend payout ratio is presently 13.37%.

HCI Group Profile

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.