Illinois Municipal Retirement Fund Has $302,000 Stake in HCI Group, Inc. (NYSE:HCI)

Illinois Municipal Retirement Fund decreased its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,457 shares of the insurance provider’s stock after selling 826 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in HCI Group were worth $302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of HCI Group in the third quarter valued at about $2,885,000. Quadrature Capital Ltd increased its position in HCI Group by 253.1% during the third quarter. Quadrature Capital Ltd now owns 19,151 shares of the insurance provider’s stock worth $1,039,000 after acquiring an additional 13,728 shares during the period. GSA Capital Partners LLP grew its stake in HCI Group by 100.6% during the third quarter. GSA Capital Partners LLP now owns 21,527 shares of the insurance provider’s stock worth $1,169,000 after buying an additional 10,797 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in HCI Group during the third quarter worth about $482,000. Finally, Federated Hermes Inc. acquired a new stake in HCI Group during the fourth quarter worth about $642,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HCI shares. JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of HCI Group in a research note on Monday, April 15th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Compass Point lifted their price objective on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a research note on Friday, April 5th. Finally, Truist Financial lifted their price target on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.00.

HCI Group Stock Down 0.0 %

Shares of NYSE HCI opened at $114.17 on Thursday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.10 and a beta of 1.14. The business has a 50-day moving average of $110.37 and a 200-day moving average of $92.37. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group, Inc. has a 12 month low of $48.08 and a 12 month high of $121.57.

HCI Group (NYSE:HCI) last issued its earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $1.81. The firm had revenue of $162.67 million for the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same quarter last year, the business earned $0.06 earnings per share. Sell-side analysts expect that HCI Group, Inc. will post 10.33 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 17th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, May 16th. HCI Group’s dividend payout ratio is presently 21.16%.

Insider Buying and Selling

In other HCI Group news, General Counsel Andrew L. Graham sold 29,008 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $117.01, for a total transaction of $3,394,226.08. Following the completion of the sale, the general counsel now directly owns 21,819 shares in the company, valued at approximately $2,553,041.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other HCI Group news, CEO Paresh Patel purchased 500 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $111.00 per share, with a total value of $55,500.00. Following the acquisition, the chief executive officer now owns 349,500 shares in the company, valued at $38,794,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew L. Graham sold 29,008 shares of the company’s stock in a transaction that occurred on 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 sale, the general counsel now directly owns 21,819 shares in the company, valued at $2,553,041.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,102 shares of company stock worth $13,198,303. 25.25% of the stock is owned by corporate insiders.

HCI Group Profile

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.