Intech Investment Management LLC Raises Holdings in HCI Group, Inc. (NYSE:HCI)

Intech Investment Management LLC raised its stake in shares of HCI Group, Inc. (NYSE:HCI) by 108.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,526 shares of the insurance provider’s stock after buying an additional 2,350 shares during the period. Intech Investment Management LLC’s holdings in HCI Group were worth $485,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of HCI Group by 153.6% during the 2nd quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider’s stock worth $860,000 after acquiring an additional 5,649 shares in the last quarter. Victory Capital Management Inc. increased its position in HCI Group by 152.7% during the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock valued at $2,380,000 after purchasing an additional 13,434 shares during the period. Royce & Associates LP bought a new stake in HCI Group during the 3rd quarter valued at $621,000. AQR Capital Management LLC lifted its position in shares of HCI Group by 27.2% during the second quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock valued at $4,905,000 after buying an additional 11,365 shares during the last quarter. Finally, BOKF NA acquired a new position in shares of HCI Group during the second quarter worth $533,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HCI. Compass Point reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities reissued a “market outperform” rating and issued a $145.00 price objective on shares of HCI Group in a research note on Tuesday, October 15th. Oppenheimer boosted their price objective on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial increased their price objective on HCI Group from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Stock Performance

NYSE:HCI opened at $121.87 on Monday. The firm has a 50-day moving average price of $112.53 and a two-hundred day moving average price of $100.74. The company has a market capitalization of $1.28 billion, a P/E ratio of 10.18 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 twelve month low of $81.35 and a twelve month high of $124.95.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s dividend payout ratio (DPR) is currently 13.37%.

HCI Group Company 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.