HCI Group, Inc. (NYSE:HCI) Sees Large Drop in Short Interest

HCI Group, Inc. (NYSE:HCI) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,140,000 shares, a decline of 5.8% from the October 15th total of 1,210,000 shares. Based on an average trading volume of 158,700 shares, the short-interest ratio is presently 7.2 days. Currently, 13.9% of the shares of the stock are sold short.

HCI Group Stock Performance

HCI stock opened at $109.57 on Wednesday. The stock has a market cap of $1.15 billion, a P/E ratio of 9.15 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50 day simple moving average of $110.33 and a 200 day simple moving average of $100.33. HCI Group has a 52 week low of $81.35 and a 52 week high of $124.00.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s dividend payout ratio (DPR) is presently 13.37%.

Institutional Trading of HCI Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Khrom Capital Management LLC increased 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 worth $54,123,000 after purchasing an additional 406,698 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of HCI Group by 196.5% in the 3rd quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock valued at $16,252,000 after buying an additional 100,600 shares in the last quarter. American Century Companies Inc. increased its holdings in HCI Group by 130.5% in 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 during the last quarter. Wellington Management Group LLP raised its position in HCI Group by 58.3% during the third quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock valued at $15,710,000 after acquiring an additional 54,050 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in HCI Group by 1,648.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock valued at $6,102,000 after acquiring an additional 53,737 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Oppenheimer upped their price target on HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com lowered HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial boosted their target price on HCI Group from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Compass Point reaffirmed a “neutral” rating and set a $120.00 target price (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

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.