Exchange Traded Concepts LLC Purchases 1,400 Shares of HCI Group, Inc. (NYSE:HCI)

Exchange Traded Concepts LLC boosted its position in shares of HCI Group, Inc. (NYSE:HCI) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,508 shares of the insurance provider’s stock after buying an additional 1,400 shares during the period. Exchange Traded Concepts LLC owned approximately 0.27% of HCI Group worth $3,322,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HCI. Two Sigma Advisers LP grew its holdings in shares of HCI Group by 196.5% in the third quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock valued at $16,252,000 after purchasing an additional 100,600 shares in the last quarter. Wellington Management Group LLP lifted its position in HCI Group by 58.3% during the third 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its position in HCI Group by 1,648.9% during the third 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of HCI Group by 28.7% in the 3rd quarter. Geode Capital Management LLC now owns 219,821 shares of the insurance provider’s stock worth $23,538,000 after buying an additional 48,969 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of HCI Group by 167.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 73,576 shares of the insurance provider’s stock worth $7,877,000 after buying an additional 46,057 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on HCI. Truist Financial reiterated a “buy” rating and issued a $145.00 price target on shares of HCI Group in a research report on Tuesday, December 17th. Oppenheimer lifted their target price on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Compass Point restated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Stock Performance

HCI Group stock opened at $122.65 on Friday. 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 has a market capitalization of $1.29 billion, a PE ratio of 10.25 and a beta of 1.13. The company has a 50 day moving average price of $115.82 and a 200-day moving average price of $106.81. HCI Group, Inc. has a fifty-two week low of $83.64 and a fifty-two week high of $126.50.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, November 7th. The insurance provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.08. The business had revenue of $175.32 million during the quarter, compared to analysts’ expectations of $192.08 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. During the same period in the prior year, the business earned $1.41 EPS. As a group, equities analysts forecast that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, November 15th. HCI Group’s dividend payout ratio (DPR) is 13.37%.

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.