Bank of America Corp DE Has $12.47 Million Stock Position in HCI Group, Inc. $HCI

Bank of America Corp DE boosted its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 11.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,689 shares of the insurance provider's stock after purchasing an additional 8,292 shares during the quarter. Bank of America Corp DE owned about 0.63% of HCI Group worth $12,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in HCI. Vanguard Group Inc. grew its holdings in HCI Group by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 839,621 shares of the insurance provider's stock worth $160,947,000 after acquiring an additional 32,167 shares during the period. State Street Corp boosted its position in shares of HCI Group by 4.7% in the 4th quarter. State Street Corp now owns 384,788 shares of the insurance provider's stock worth $73,760,000 after purchasing an additional 17,299 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of HCI Group by 11.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 354,884 shares of the insurance provider's stock worth $54,870,000 after purchasing an additional 36,348 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of HCI Group by 16.7% during the third quarter. Wellington Management Group LLP now owns 352,935 shares of the insurance provider's stock worth $67,739,000 after purchasing an additional 50,378 shares during the period. Finally, Freestone Grove Partners LP grew its stake in shares of HCI Group by 353.6% during the fourth quarter. Freestone Grove Partners LP now owns 275,108 shares of the insurance provider's stock worth $52,735,000 after purchasing an additional 214,464 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on HCI. Citizens Jmp increased their target price on HCI Group from $255.00 to $265.00 and gave the company a "market outperform" rating in a research note on Friday, August 7th. Citigroup reaffirmed a "market outperform" rating on shares of HCI Group in a research note on Friday, August 7th. Wall Street Zen downgraded shares of HCI Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Cantor Fitzgerald began coverage on shares of HCI Group in a research note on Thursday, July 9th. They set an "overweight" rating and a $225.00 price objective on the stock. Finally, Zacks Research cut shares of HCI Group from a "strong-buy" rating to a "hold" rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, HCI Group has a consensus rating of "Moderate Buy" and a consensus target price of $241.67.

HCI Group Stock Up 0.0%

NYSE:HCI opened at $182.09 on Friday. HCI Group, Inc. has a 1 year low of $144.75 and a 1 year high of $210.50. The stock has a 50-day moving average price of $178.21 and a two-hundred day moving average price of $164.83. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 7.85 and a beta of 1.04. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.56. HCI Group had a return on equity of 28.80% and a net margin of 32.60%.The business had revenue of $246.65 million for the quarter, compared to analysts' expectations of $247.43 million. As a group, equities analysts expect that HCI Group, Inc. will post 19.47 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 18th. Stockholders of record on Friday, August 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. HCI Group's dividend payout ratio is 6.90%.

About HCI Group

HCI Group, Inc NYSE: HCI is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.

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