Intech Investment Management LLC Acquires 5,266 Shares of HCI Group, Inc. (NYSE:HCI)

Intech Investment Management LLC grew its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 116.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,792 shares of the insurance provider’s stock after buying an additional 5,266 shares during the period. Intech Investment Management LLC owned 0.09% of HCI Group worth $1,141,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of HCI Group by 77.3% during the 3rd quarter. Barclays PLC now owns 15,501 shares of the insurance provider’s stock valued at $1,659,000 after buying an additional 6,756 shares in the last quarter. Victory Capital Management Inc. boosted its stake in HCI Group by 152.7% in the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock worth $2,380,000 after purchasing an additional 13,434 shares in the last quarter. Principal Financial Group Inc. boosted its stake in HCI Group by 16.4% in the 3rd quarter. Principal Financial Group Inc. now owns 56,180 shares of the insurance provider’s stock worth $6,015,000 after purchasing an additional 7,914 shares in the last quarter. FMR LLC boosted its stake in HCI Group by 49.6% in the 3rd quarter. FMR LLC now owns 32,571 shares of the insurance provider’s stock worth $3,487,000 after purchasing an additional 10,795 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in HCI Group in the 3rd quarter worth about $1,767,000. Institutional investors own 86.99% of the company’s stock.

HCI Group Price Performance

HCI opened at $136.44 on Friday. The company’s 50-day simple moving average is $126.00 and its two-hundred day simple moving average is $116.67. HCI Group, Inc. has a 52-week low of $83.65 and a 52-week high of $141.21. The stock has a market capitalization of $1.47 billion, a P/E ratio of 11.40 and a beta of 1.14. 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 (NYSE:HCI) last released its quarterly earnings data on Thursday, February 27th. The insurance provider reported $0.31 earnings per share for the quarter, beating the consensus estimate 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. As a group, analysts predict that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

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

Wall Street Analyst Weigh In

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