Teachers Retirement System of The State of Kentucky Boosts Stock Position in HCI Group, Inc. (NYSE:HCI)

Teachers Retirement System of The State of Kentucky grew its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,818 shares of the insurance provider’s stock after purchasing an additional 2,512 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in HCI Group were worth $1,265,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HCI. Victory Capital Management Inc. grew its position in HCI Group by 152.7% during the third quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock valued at $2,380,000 after buying an additional 13,434 shares during the period. Royce & Associates LP purchased a new position in HCI Group in the third quarter valued at about $621,000. AQR Capital Management LLC grew its position in shares of HCI Group by 27.2% during the 2nd quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock valued at $4,905,000 after acquiring an additional 11,365 shares during the period. FMR LLC increased its stake in shares of HCI Group by 49.6% during 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 during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of HCI Group by 20.8% in the 2nd quarter. Federated Hermes Inc. now owns 39,172 shares of the insurance provider’s stock worth $3,610,000 after purchasing an additional 6,752 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HCI has been the subject of a number of recent research reports. Oppenheimer raised their target price on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial reissued a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a report on Tuesday. Compass Point reaffirmed a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Stock Performance

Shares of HCI opened at $112.52 on Wednesday. HCI Group, Inc. has a 52-week low of $81.35 and a 52-week high of $126.50. The stock’s 50-day simple moving average is $114.63 and its 200 day simple moving average is $102.18. 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 stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.40 and a beta of 1.11.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, November 15th. HCI Group’s payout ratio 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.