Los Angeles Capital Management LLC Increases Stake in HCI Group, Inc. (NYSE:HCI)

Los Angeles Capital Management LLC raised its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 49.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,336 shares of the insurance provider’s stock after acquiring an additional 8,048 shares during the quarter. Los Angeles Capital Management LLC’s holdings in HCI Group were worth $2,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Point72 DIFC Ltd bought a new position in HCI Group in the 2nd quarter worth $26,000. Gladius Capital Management LP bought a new position in shares of HCI Group in the second quarter worth about $31,000. GAMMA Investing LLC lifted its position in shares of HCI Group by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after buying an additional 178 shares in the last quarter. CWM LLC lifted its position in shares of HCI Group by 115.4% during the 2nd quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after buying an additional 495 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of HCI Group by 49.1% during the 3rd 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. Institutional investors own 86.99% of the company’s stock.

HCI Group Price Performance

NYSE:HCI opened at $115.80 on Wednesday. The business has a 50 day simple moving average of $108.83 and a 200-day simple moving average of $100.37. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 9.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44. HCI Group, Inc. has a 1 year low of $74.62 and a 1 year high of $124.00.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be given a $0.40 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. HCI Group’s payout ratio is presently 13.37%.

Wall Street Analyst Weigh In

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

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.