Jupiter Asset Management Ltd. Decreases Stake in HCI Group, Inc. $HCI

Jupiter Asset Management Ltd. lessened its stake in HCI Group, Inc. (NYSE:HCI) by 13.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,435 shares of the insurance provider’s stock after selling 3,819 shares during the quarter. Jupiter Asset Management Ltd. owned 0.22% of HCI Group worth $3,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HCI. Global Assets Advisory LLC acquired a new position in HCI Group during the second quarter worth about $46,000. USA Financial Formulas lifted its position in shares of HCI Group by 250.0% during the 2nd quarter. USA Financial Formulas now owns 518 shares of the insurance provider’s stock valued at $79,000 after acquiring an additional 370 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of HCI Group by 825.7% during the 1st quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider’s stock worth $97,000 after acquiring an additional 578 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of HCI Group by 24.5% during the 2nd quarter. GAMMA Investing LLC now owns 742 shares of the insurance provider’s stock worth $113,000 after acquiring an additional 146 shares in the last quarter. Finally, Simplex Trading LLC acquired a new stake in shares of HCI Group in the 1st quarter worth approximately $148,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Oppenheimer downgraded HCI Group from an “outperform” rating to a “market perform” rating in a research note on Thursday. Citizens Jmp boosted their price objective on shares of HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a research report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of HCI Group in a report on Wednesday, October 8th. Finally, Truist Financial lifted their target price on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $230.00.

HCI Group Stock Down 3.3%

Shares of HCI opened at $183.17 on Friday. The company’s fifty day moving average is $190.14 and its two-hundred day moving average is $166.22. The firm has a market cap of $2.37 billion, a PE ratio of 16.24 and a beta of 1.16. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. HCI Group, Inc. has a fifty-two week low of $106.03 and a fifty-two week high of $210.50.

HCI Group (NYSE:HCI) last posted its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 EPS for the quarter, beating the consensus estimate of $2.44 by $2.46. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. The firm had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. Analysts forecast that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be paid a $0.40 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. HCI Group’s dividend payout ratio is 10.22%.

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.