Raymond James Financial Inc. Acquires New Shares in HCI Group, Inc. (NYSE:HCI)

Raymond James Financial Inc. acquired a new stake in shares of HCI Group, Inc. (NYSE:HCI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,282 shares of the insurance provider’s stock, valued at approximately $2,713,000. Raymond James Financial Inc. owned 0.22% of HCI Group as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in HCI Group in the 4th quarter worth $1,358,000. Assetmark Inc. lifted its position in HCI Group by 2.7% during the fourth quarter. Assetmark Inc. now owns 30,546 shares of the insurance provider’s stock worth $3,560,000 after acquiring an additional 794 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of HCI Group by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 77,391 shares of the insurance provider’s stock worth $9,018,000 after acquiring an additional 3,815 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of HCI Group by 25.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 4,841 shares of the insurance provider’s stock valued at $564,000 after purchasing an additional 992 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of HCI Group by 26.1% during the fourth quarter. Bank of New York Mellon Corp now owns 79,727 shares of the insurance provider’s stock worth $9,291,000 after buying an additional 16,497 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial restated a “buy” rating and set a $145.00 price objective on shares of HCI Group in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, HCI Group currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Stock Performance

Shares of NYSE:HCI opened at $150.68 on Friday. HCI Group, Inc. has a 1 year low of $83.65 and a 1 year high of $150.96. The company’s 50 day simple moving average is $128.62 and its 200 day simple moving average is $118.15. 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 stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.59 and a beta of 1.14.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, February 27th. The insurance provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of ($2.75) by $3.06. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. The firm had revenue of $161.88 million for the quarter, compared to analysts’ expectations of $175.11 million. As a group, research analysts predict that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a $0.40 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.06%. HCI Group’s payout ratio is 18.18%.

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.