HCI Group, Inc. (NYSE:HCI) Short Interest Down 28.9% in January

HCI Group, Inc. (NYSE:HCI) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 328,021 shares, a drop of 28.9% from the January 15th total of 461,030 shares. Based on an average daily trading volume, of 204,309 shares, the days-to-cover ratio is presently 1.6 days. Approximately 3.2% of the shares of the company are short sold. Approximately 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 204,309 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HCI shares. Wall Street Zen upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Oppenheimer lowered HCI Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 13th. Truist Financial boosted their price objective on HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 7th. Zacks Research lowered HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of HCI Group in a research report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

HCI Group Price Performance

NYSE HCI traded down $3.27 during trading hours on Monday, reaching $158.31. The company’s stock had a trading volume of 105,080 shares, compared to its average volume of 151,439. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 10.04 and a beta of 1.21. The company’s 50-day moving average is $174.37 and its two-hundred day moving average is $176.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.80. HCI Group has a 1-year low of $115.65 and a 1-year high of $210.50.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 20th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. HCI Group’s dividend payout ratio (DPR) is 10.22%.

Institutional Investors Weigh In On HCI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in HCI Group by 5.5% during the first quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider’s stock valued at $2,093,000 after purchasing an additional 727 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of HCI Group by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider’s stock worth $736,000 after purchasing an additional 228 shares during the last quarter. Millennium Management LLC lifted its stake in HCI Group by 78.7% in the 1st quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider’s stock valued at $15,278,000 after buying an additional 45,097 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in HCI Group by 20.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 1,800 shares of the insurance provider’s stock valued at $274,000 after buying an additional 300 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in HCI Group by 9.5% in the 2nd quarter. Yousif Capital Management LLC now owns 3,450 shares of the insurance provider’s stock worth $525,000 after buying an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About HCI Group

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.