Assenagon Asset Management S.A. Lowers Stock Position in HCI Group, Inc. (NYSE:HCI)

Assenagon Asset Management S.A. lowered its position in shares of HCI Group, Inc. (NYSE:HCI) by 69.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,205 shares of the insurance provider’s stock after selling 36,929 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of HCI Group worth $1,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of HCI Group by 80.7% during the first quarter. FMR LLC now owns 468 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 209 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of HCI Group by 112.7% during the first quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 257 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in HCI Group by 1,807.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 534 shares of the insurance provider’s stock worth $36,000 after buying an additional 506 shares in the last quarter. Quantbot Technologies LP bought a new stake in HCI Group in the 3rd quarter worth about $62,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in HCI Group in the 3rd quarter worth about $76,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a report on Friday. William Blair raised HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Truist Financial raised their target price on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Finally, Compass Point raised their target price on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HCI Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.33.

HCI Group Stock Performance

NYSE HCI opened at $114.48 on Friday. The company has a market cap of $1.14 billion, a P/E ratio of 15.14 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. The business’s 50 day moving average price is $103.48 and its 200-day moving average price is $84.75. HCI Group, Inc. has a fifty-two week low of $48.08 and a fifty-two week high of $121.57.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, beating the consensus estimate of $1.41 by $1.81. The company had revenue of $162.67 million for the quarter, compared to the consensus estimate of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same quarter in the prior year, the company posted $0.06 EPS. Sell-side analysts predict that HCI Group, Inc. will post 10.22 earnings per share for the current year.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 16th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, February 15th. HCI Group’s dividend payout ratio (DPR) is currently 21.16%.

Insider Buying and Selling

In related news, General Counsel Andrew L. Graham sold 800 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the completion of the sale, the general counsel now directly owns 57,630 shares in the company, valued at approximately $6,709,284.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Andrew L. Graham sold 29,008 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $117.01, for a total value of $3,394,226.08. Following the transaction, the general counsel now directly owns 21,819 shares of the company’s stock, valued at $2,553,041.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total value of $93,136.00. Following the sale, the general counsel now directly owns 57,630 shares in the company, valued at $6,709,284.60. The disclosure for this sale can be found here. Insiders sold 89,069 shares of company stock worth $10,397,354 in the last three months. 25.25% of the stock is owned by insiders.

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.