Vanguard Group Inc. Lowers Position in HCI Group, Inc. (NYSE:HCI)

Vanguard Group Inc. reduced its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 418,513 shares of the insurance provider's stock after selling 33,247 shares during the quarter. Vanguard Group Inc. owned approximately 4.87% of HCI Group worth $22,721,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wasatch Advisors LP bought a new stake in shares of HCI Group in the first quarter valued at about $8,558,000. Bank of America Corp DE raised its holdings in shares of HCI Group by 859.9% in the first quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider's stock valued at $5,983,000 after acquiring an additional 99,992 shares in the last quarter. Millennium Management LLC raised its holdings in shares of HCI Group by 160.2% in the second quarter. Millennium Management LLC now owns 139,280 shares of the insurance provider's stock valued at $9,438,000 after acquiring an additional 85,759 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of HCI Group in the first quarter valued at about $5,815,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of HCI Group in the third quarter valued at about $2,885,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HCI has been the subject of several recent research reports. Compass Point lifted their price objective on HCI Group from $90.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Truist Financial boosted their target price on shares of HCI Group from $96.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, January 12th. Oppenheimer reiterated an "outperform" rating and issued a $140.00 target price on shares of HCI Group in a report on Friday, April 5th. Finally, William Blair upgraded shares of HCI Group from a "market perform" rating to an "outperform" rating in a report on Friday, March 8th. One equities 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $125.33.

Insider Activity

In other news, insider Anthony Saravanos sold 12,967 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the transaction, the insider now owns 67,033 shares in the company, valued at $7,843,531.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Anthony Saravanos sold 12,967 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the transaction, the insider now owns 67,033 shares in the company, valued at $7,843,531.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew L. Graham sold 800 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares in the company, valued at approximately $6,709,284.60. The disclosure for this sale can be found here. Insiders have sold a total of 113,102 shares of company stock worth $13,198,303 over the last 90 days. 25.25% of the stock is currently owned by corporate insiders.

HCI Group Stock Down 1.2 %

HCI Group stock traded down $1.33 during trading hours on Friday, reaching $109.35. The stock had a trading volume of 121,887 shares, compared to its average volume of 167,248. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 14.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The business's 50 day moving average price is $105.65 and its 200-day moving average price is $87.10. HCI Group, Inc. has a 52 week low of $48.08 and a 52 week high of $121.57.

HCI Group (NYSE:HCI - Get Free Report) last announced its earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $1.81. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. The business had revenue of $162.67 million during the quarter, compared to the consensus estimate of $146.09 million. During the same period in the previous year, the company posted $0.06 earnings per share. Sell-side analysts anticipate that HCI Group, Inc. will post 10.33 EPS for the current year.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 16th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.46%. HCI Group's dividend payout ratio (DPR) is currently 21.16%.

HCI Group Company Profile

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.