Federated Hermes Inc. Makes New Investment in HCI Group, Inc. (NYSE:HCI)

Federated Hermes Inc. purchased a new stake in HCI Group, Inc. (NYSE:HCI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,349 shares of the insurance provider's stock, valued at approximately $642,000. Federated Hermes Inc. owned approximately 0.09% of HCI Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HCI. Victory Capital Management Inc. grew its stake in HCI Group by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 16,100 shares of the insurance provider's stock valued at $874,000 after acquiring an additional 304 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in HCI Group during the third quarter valued at approximately $2,885,000. Illinois Municipal Retirement Fund acquired a new position in HCI Group in the 3rd quarter valued at approximately $233,000. Barclays PLC lifted its position in HCI Group by 54.7% in the 3rd quarter. Barclays PLC now owns 4,962 shares of the insurance provider's stock worth $270,000 after buying an additional 1,754 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of HCI Group during the 3rd quarter valued at $62,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Buying and Selling

In related news, CEO Paresh Patel acquired 500 shares of the business's stock in a transaction dated Thursday, April 11th. The stock was acquired at an average price of $111.00 per share, with a total value of $55,500.00. Following the completion of the transaction, the chief executive officer now owns 349,500 shares of the company's stock, valued at $38,794,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Anthony Saravanos sold 20,873 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $116.78, for a total value of $2,437,548.94. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at approximately $3,503,400. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paresh Patel bought 500 shares of the firm's stock in a transaction dated Thursday, April 11th. The shares were acquired at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the transaction, the chief executive officer now owns 349,500 shares in the company, valued at approximately $38,794,500. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial increased their price objective on 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 research note on Friday, April 5th. William Blair upgraded shares of HCI Group from a "market perform" rating to an "outperform" rating in a research note on Friday, March 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $120.00 price target on shares of HCI Group in a research report on Monday, April 15th. Finally, Compass Point increased 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $124.00.

HCI Group Stock Performance

HCI stock traded down $0.80 during mid-day trading on Friday, reaching $110.96. 124,373 shares of the stock traded hands, compared to its average volume of 131,073. The firm has a market capitalization of $1.14 billion, a PE ratio of 14.78 and a beta of 1.15. The business has a 50-day moving average of $110.68 and a two-hundred day moving average of $92.50. HCI Group, Inc. has a 52 week low of $48.08 and a 52 week 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 posted its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million during the quarter, compared to analysts' expectations of $146.09 million. HCI Group had a return on equity of 36.40% and a net margin of 14.35%. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, equities analysts predict that HCI Group, Inc. will post 10.33 EPS for the current fiscal year.

HCI Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 17th will be paid a $0.40 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. HCI Group's payout ratio is 21.16%.

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.