Short Interest in HCI Group, Inc. (NYSE:HCI) Grows By 10.5%

HCI Group, Inc. (NYSE:HCI) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,260,000 shares, an increase of 10.5% from the October 31st total of 1,140,000 shares. Approximately 15.3% of the company’s stock are sold short. Based on an average daily trading volume, of 163,600 shares, the short-interest ratio is currently 7.7 days.

HCI Group Stock Down 3.9 %

Shares of HCI Group stock opened at $118.89 on Wednesday. The company has a market cap of $1.25 billion, a P/E ratio of 9.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. HCI Group has a one year low of $81.35 and a one year high of $126.50. The firm has a fifty day moving average of $113.11 and a two-hundred day moving average of $101.03.

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. HCI Group’s payout ratio is currently 13.37%.

Hedge Funds Weigh In On HCI Group

A number of large investors have recently bought and sold shares of HCI. Khrom Capital Management LLC raised its position in HCI Group by 225.3% during the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock worth $54,123,000 after buying an additional 406,698 shares during the last quarter. Two Sigma Advisers LP raised its position in HCI Group by 196.5% during the 3rd quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock worth $16,252,000 after buying an additional 100,600 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of HCI Group by 130.5% in the 2nd quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock valued at $10,164,000 after purchasing an additional 62,438 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of HCI Group by 58.3% in the 3rd quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock valued at $15,710,000 after purchasing an additional 54,050 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of HCI Group by 1,648.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock valued at $6,102,000 after purchasing an additional 53,737 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HCI shares. JMP Securities restated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Truist Financial upped their target price on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 8th. Oppenheimer upped their target price on shares of HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Compass Point restated a “neutral” rating and issued a $120.00 target price (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, HCI Group currently has an average rating of “Moderate Buy” and an average price target of $140.00.

About HCI Group

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.