Essex Investment Management Co. LLC Reduces Stock Holdings in HCI Group, Inc. (NYSE:HCI)

Essex Investment Management Co. LLC lowered its stake in shares of HCI Group, Inc. (NYSE:HCI) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,335 shares of the insurance provider’s stock after selling 6,244 shares during the quarter. HCI Group comprises approximately 1.7% of Essex Investment Management Co. LLC’s holdings, making the stock its 5th largest holding. Essex Investment Management Co. LLC owned 0.78% of HCI Group worth $9,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in HCI Group during the fourth quarter worth $2,713,000. Proficio Capital Partners LLC acquired a new stake in HCI Group during the fourth quarter worth $1,358,000. Assetmark Inc. boosted its stake 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 buying an additional 794 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 3,815 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in HCI Group by 25.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 4,841 shares of the insurance provider’s stock worth $564,000 after buying an additional 992 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

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

HCI Group Stock Up 1.0 %

Shares of NYSE:HCI opened at $136.20 on Friday. HCI Group, Inc. has a 52 week low of $83.65 and a 52 week high of $140.72. 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 company’s fifty day moving average is $121.30 and its 200-day moving average is $113.67. The company has a market capitalization of $1.47 billion, a PE ratio of 11.38 and a beta of 1.14.

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

HCI Group Dividend Announcement

The company also recently announced 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 of this dividend is Friday, February 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. HCI Group’s dividend payout ratio is presently 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.