HCI Group, Inc. (NYSE:HCI) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in HCI Group, Inc. (NYSE:HCI) by 26.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,727 shares of the insurance provider’s stock after acquiring an additional 16,497 shares during the period. Bank of New York Mellon Corp owned about 0.76% of HCI Group worth $9,291,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HCI. Amalgamated Bank grew its stake in shares of HCI Group by 10.3% in the 3rd quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider’s stock valued at $258,000 after buying an additional 225 shares during the period. Versor Investments LP acquired a new stake in HCI Group during the 3rd quarter worth approximately $440,000. Victory Capital Management Inc. raised its holdings in shares of HCI Group by 152.7% in 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 in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of HCI Group in the 3rd quarter valued at $370,000. Finally, Royce & Associates LP acquired a new stake in shares of HCI Group in the 3rd quarter valued at $621,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

HCI Group Price Performance

HCI Group stock opened at $138.46 on Friday. HCI Group, Inc. has a 1 year low of $83.65 and a 1 year high of $141.21. The firm has a 50 day moving average price of $123.61 and a 200 day moving average price of $115.06. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 11.57 and a beta of 1.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47.

HCI Group (NYSE:HCI) last released its quarterly earnings data on Thursday, February 27th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.75) by $3.06. The company had revenue of $161.88 million during the quarter, compared to the consensus estimate of $175.11 million. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. Sell-side analysts predict that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.16%. HCI Group’s dividend payout ratio (DPR) is 18.18%.

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.