Essex Investment Management Co. LLC Sells 6,244 Shares of HCI Group, Inc. (NYSE:HCI)

Essex Investment Management Co. LLC decreased its stake in shares of HCI Group, Inc. (NYSE:HCI) by 7.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 82,335 shares of the insurance provider’s stock after selling 6,244 shares during the period. HCI Group makes up 1.7% of Essex Investment Management Co. LLC’s holdings, making the stock its 5th biggest holding. Essex Investment Management Co. LLC’s holdings in HCI Group were worth $9,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HCI. Raymond James Financial Inc. bought a new stake in HCI Group during the 4th quarter worth about $2,713,000. Proficio Capital Partners LLC bought a new stake in HCI Group during the 4th quarter worth about $1,358,000. Assetmark Inc. raised its holdings in HCI Group by 2.7% during the 4th quarter. Assetmark Inc. now owns 30,546 shares of the insurance provider’s stock worth $3,560,000 after purchasing an additional 794 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in HCI Group by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,391 shares of the insurance provider’s stock worth $9,018,000 after purchasing an additional 3,815 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in HCI Group by 25.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 4,841 shares of the insurance provider’s stock worth $564,000 after purchasing an additional 992 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Stock Performance

Shares of HCI stock opened at $136.20 on Friday. 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 cap of $1.47 billion, a PE ratio of 11.38 and a beta of 1.14. The stock has a 50-day moving average of $121.30 and a 200-day moving average of $113.67. HCI Group, Inc. has a one year low of $83.65 and a one year high of $140.72.

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

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be paid a $0.40 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. HCI Group’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reissued a “buy” rating and set a $145.00 price objective on shares of HCI Group in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, HCI Group has a consensus rating of “Moderate Buy” and an average target price 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.