Allspring Global Investments Holdings LLC Has $12.48 Million Stock Position in HCI Group, Inc. (NYSE:HCI)

Allspring Global Investments Holdings LLC lessened its holdings in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 17.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,923 shares of the insurance provider's stock after selling 17,993 shares during the period. Allspring Global Investments Holdings LLC owned about 0.79% of HCI Group worth $12,484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HCI. Bank of New York Mellon Corp grew its position in shares of HCI Group by 26.1% during the 4th quarter. Bank of New York Mellon Corp now owns 79,727 shares of the insurance provider's stock worth $9,291,000 after purchasing an additional 16,497 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of HCI Group during the 4th quarter worth approximately $1,358,000. Charles Schwab Investment Management Inc. grew its position in shares of HCI Group by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,391 shares of the insurance provider's stock worth $9,018,000 after purchasing an additional 3,815 shares in the last quarter. Assetmark Inc. grew its position in shares of HCI Group by 2.7% during the 4th quarter. Assetmark Inc. now owns 30,546 shares of the insurance provider's stock worth $3,560,000 after purchasing an additional 794 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of HCI Group during the 4th quarter worth approximately $2,713,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

HCI has been the topic of a number of analyst reports. Compass Point upgraded shares of HCI Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $148.00 to $205.00 in a research report on Friday, May 30th. JMP Securities upped their price target on shares of HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, HCI Group has an average rating of "Moderate Buy" and a consensus price target of $181.25.

HCI Group Stock Down 1.8%

NYSE:HCI traded down $2.61 during trading hours on Monday, reaching $144.15. The company had a trading volume of 121,415 shares, compared to its average volume of 140,223. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 13.94 and a beta of 1.21. The business's 50-day simple moving average is $156.55 and its two-hundred day simple moving average is $138.79. HCI Group, Inc. has a twelve month low of $83.65 and a twelve month high of $176.40.

HCI Group (NYSE:HCI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The insurance provider reported $5.35 EPS for the quarter, topping analysts' consensus estimates of $4.49 by $0.86. The business had revenue of $216.43 million during the quarter, compared to analysts' expectations of $214.89 million. HCI Group had a net margin of 17.38% and a return on equity of 27.69%. On average, equities analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, August 15th. HCI Group's payout ratio is 15.47%.

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.