Wells Fargo & Company MN lowered its position in shares of HCI Group, Inc. (NYSE:HCI) by 81.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,292 shares of the insurance provider’s stock after selling 51,066 shares during the period. Wells Fargo & Company MN owned 0.11% of HCI Group worth $515,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Capstone Asset Management Co. purchased a new stake in shares of HCI Group during the first quarter valued at about $222,000. Public Sector Pension Investment Board bought a new stake in shares of HCI Group during the fourth quarter valued at $247,000. Russell Investments Group Ltd. boosted its stake in shares of HCI Group by 192.8% in the first quarter. Russell Investments Group Ltd. now owns 6,589 shares of the insurance provider’s stock valued at $300,000 after buying an additional 4,339 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of HCI Group by 2.8% in the first quarter. Nationwide Fund Advisors now owns 6,609 shares of the insurance provider’s stock valued at $301,000 after buying an additional 181 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of HCI Group by 4.3% in the fourth quarter. Comerica Bank now owns 9,045 shares of the insurance provider’s stock valued at $356,000 after buying an additional 377 shares during the last quarter. 75.74% of the stock is currently owned by institutional investors and hedge funds.
HCI Group, Inc. (NYSE HCI) traded down 2.33% during mid-day trading on Friday, reaching $45.34. The company’s stock had a trading volume of 57,473 shares. HCI Group, Inc. has a 52 week low of $24.35 and a 52 week high of $50.93. The company’s 50-day moving average price is $46.26 and its 200 day moving average price is $44.97. The firm has a market capitalization of $447.23 million, a price-to-earnings ratio of 13.16 and a beta of 2.37.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.09%. HCI Group’s dividend payout ratio (DPR) is presently 40.82%.
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Several equities research analysts have weighed in on HCI shares. Zacks Investment Research raised HCI Group from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, June 7th. SunTrust Banks, Inc. initiated coverage on HCI Group in a research report on Tuesday, July 4th. They set a “buy” rating and a $52.00 target price for the company. Keefe, Bruyette & Woods restated a “hold” rating on shares of HCI Group in a research report on Monday, May 15th. ValuEngine upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 6th. Finally, TheStreet upgraded HCI Group from a “c” rating to a “b-” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. HCI Group currently has an average rating of “Buy” and an average target price of $45.25.
About HCI Group
HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.
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