Jane Street Group LLC Reduces Stock Position in HCI Group, Inc. (NYSE:HCI)

Jane Street Group LLC cut its stake in HCI Group, Inc. (NYSE:HCI) by 62.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,060 shares of the insurance provider’s stock after selling 8,497 shares during the quarter. Jane Street Group LLC’s holdings in HCI Group were worth $542,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in shares of HCI Group in the 2nd quarter worth about $26,000. GAMMA Investing LLC increased its stake in shares of 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 in the last quarter. Nisa Investment Advisors LLC raised its holdings in HCI Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock worth $98,000 after buying an additional 300 shares during the last quarter. CWM LLC raised its holdings in HCI Group by 34.2% in the third quarter. CWM LLC now owns 1,240 shares of the insurance provider’s stock worth $133,000 after buying an additional 316 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in HCI Group in the second quarter worth about $201,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HCI has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, December 17th. Compass Point reaffirmed a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. JMP Securities reissued a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a report on Tuesday, October 15th. Finally, Oppenheimer boosted their price objective on shares of HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

HCI Group Stock Performance

Shares of NYSE HCI opened at $110.25 on Monday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 9.21 and a beta of 1.13. HCI Group, Inc. has a 12-month low of $81.35 and a 12-month high of $126.50. The firm has a 50 day moving average of $114.78 and a 200 day moving average of $103.87. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 15th were given a $0.40 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. HCI Group’s payout ratio is currently 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.