Geode Capital Management LLC Acquires 48,969 Shares of HCI Group, Inc. (NYSE:HCI)

Geode Capital Management LLC grew its stake in shares of HCI Group, Inc. (NYSE:HCI) by 28.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,821 shares of the insurance provider’s stock after buying an additional 48,969 shares during the quarter. Geode Capital Management LLC owned 2.09% of HCI Group worth $23,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in HCI Group during the 2nd quarter valued at $26,000. GAMMA Investing LLC grew its holdings in HCI Group by 80.9% in the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 178 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of HCI Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 300 shares during the period. CWM LLC raised its stake in shares of HCI Group by 34.2% during the third quarter. CWM LLC now owns 1,240 shares of the insurance provider’s stock valued at $133,000 after acquiring an additional 316 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of HCI Group during the second quarter worth about $201,000. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HCI shares. Truist Financial reiterated a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a report on Tuesday, December 17th. Oppenheimer raised their price target on 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 reissued a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $145.00 price objective on shares of HCI Group in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Stock Down 0.9 %

NYSE:HCI opened at $117.42 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. The firm’s 50-day moving average price is $114.89 and its 200-day moving average price is $103.12. The company has a market capitalization of $1.24 billion, a PE ratio of 9.81 and a beta of 1.11. HCI Group, Inc. has a 1-year low of $81.35 and a 1-year high of $126.50.

HCI Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 15th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, November 15th. HCI Group’s dividend payout ratio (DPR) is currently 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.