Intech Investment Management LLC Increases Stake in HCI Group, Inc. (NYSE:HCI)

Intech Investment Management LLC raised its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 116.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,792 shares of the insurance provider’s stock after acquiring an additional 5,266 shares during the period. Intech Investment Management LLC’s holdings in HCI Group were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New York State Teachers Retirement System increased its holdings in HCI Group by 1.0% during the fourth quarter. New York State Teachers Retirement System now owns 10,493 shares of the insurance provider’s stock valued at $1,223,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC increased its holdings in HCI Group by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock valued at $60,000 after buying an additional 113 shares during the last quarter. Point72 DIFC Ltd increased its holdings in HCI Group by 75.0% during the third quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock valued at $53,000 after buying an additional 213 shares during the last quarter. Rhumbline Advisers increased its holdings in HCI Group by 1.1% during the fourth quarter. Rhumbline Advisers now owns 22,315 shares of the insurance provider’s stock valued at $2,600,000 after buying an additional 232 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in HCI Group by 1.6% during the third quarter. BNP Paribas Financial Markets now owns 21,518 shares of the insurance provider’s stock valued at $2,304,000 after buying an additional 343 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Stock Performance

Shares of NYSE HCI opened at $136.44 on Friday. The firm has a fifty day moving average price of $126.00 and a 200-day moving average price of $116.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $1.47 billion, a PE ratio of 11.40 and a beta of 1.14. HCI Group, Inc. has a 1 year low of $83.65 and a 1 year high of $141.21.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, February 27th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.75) by $3.06. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. The firm had revenue of $161.88 million during the quarter, compared to analysts’ expectations of $175.11 million. Equities analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. HCI Group’s dividend payout ratio is 18.18%.

Wall Street Analyst Weigh In

Separately, Truist Financial reissued a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.