HCI Group, Inc. (NYSE:HCI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in HCI Group, Inc. (NYSE:HCI - Free Report) by 69.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,205 shares of the insurance provider's stock after selling 36,929 shares during the period. Assenagon Asset Management S.A. owned approximately 0.19% of HCI Group worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in HCI Group by 80.7% in the 1st quarter. FMR LLC now owns 468 shares of the insurance provider's stock worth $25,000 after acquiring an additional 209 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of HCI Group by 112.7% during the 1st quarter. Captrust Financial Advisors now owns 485 shares of the insurance provider's stock valued at $33,000 after buying an additional 257 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of HCI Group during the 1st quarter valued at about $383,000. Point72 Hong Kong Ltd raised its stake in shares of HCI Group by 1,807.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 534 shares of the insurance provider's stock valued at $36,000 after buying an additional 506 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of HCI Group during the 3rd quarter valued at about $62,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HCI. William Blair upgraded HCI Group from a "market perform" rating to an "outperform" rating in a research note on Friday, March 8th. Truist Financial lifted their price objective on HCI Group from $96.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, January 12th. Oppenheimer reiterated an "outperform" rating and set a $140.00 price objective on shares of HCI Group in a research note on Friday. Finally, Compass Point lifted their price objective on HCI Group from $90.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, HCI Group presently has a consensus rating of "Moderate Buy" and an average target price of $125.33.

HCI Group Price Performance

Shares of HCI Group stock traded up $1.04 on Friday, hitting $114.52. 69,981 shares of the company were exchanged, compared to its average volume of 215,462. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.15 and a beta of 1.14. The company has a 50-day moving average price of $103.48 and a 200 day moving average price of $84.97. HCI Group, Inc. has a 1-year low of $48.08 and a 1-year high of $121.57. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, beating the consensus estimate of $1.41 by $1.81. The firm had revenue of $162.67 million for the quarter, compared to analyst estimates of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same quarter in the previous year, the company earned $0.06 EPS. As a group, sell-side analysts predict that HCI Group, Inc. will post 10.22 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 16th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, February 15th. HCI Group's payout ratio is presently 21.16%.

Insider Activity

In other news, Director Sanjay Madhu sold 3,294 shares of HCI Group stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $118.72, for a total transaction of $391,063.68. Following the sale, the director now owns 71,706 shares of the company's stock, valued at approximately $8,512,936.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other HCI Group news, General Counsel Andrew L. Graham sold 800 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total value of $93,136.00. Following the sale, the general counsel now owns 57,630 shares of the company's stock, valued at $6,709,284.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sanjay Madhu sold 3,294 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $118.72, for a total value of $391,063.68. Following the completion of the sale, the director now directly owns 71,706 shares in the company, valued at approximately $8,512,936.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,069 shares of company stock valued at $10,397,354. 25.25% of the stock is currently owned by company insiders.

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.