Moran Wealth Management LLC Invests $3 Million in HCI Group, Inc. $HCI

Moran Wealth Management LLC purchased a new position in HCI Group, Inc. (NYSE:HCI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,627 shares of the insurance provider’s stock, valued at approximately $2,999,000. Moran Wealth Management LLC owned about 0.12% of HCI Group at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HCI. Creative Planning increased its position in shares of HCI Group by 0.3% in the 2nd quarter. Creative Planning now owns 52,191 shares of the insurance provider’s stock worth $7,943,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of HCI Group by 24.5% during the second quarter. GAMMA Investing LLC now owns 742 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 146 shares during the last quarter. Anchor Capital Advisors LLC grew its stake in HCI Group by 10.5% in the second quarter. Anchor Capital Advisors LLC now owns 1,575 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 150 shares in the last quarter. NewEdge Advisors LLC increased its holdings in HCI Group by 5.8% in the second quarter. NewEdge Advisors LLC now owns 2,750 shares of the insurance provider’s stock valued at $419,000 after buying an additional 150 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in HCI Group by 9.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,931 shares of the insurance provider’s stock valued at $294,000 after buying an additional 168 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Citizens Jmp increased 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 note on Monday, November 10th. Truist Financial raised their target price on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of HCI Group in a report on Monday, December 29th. Finally, Oppenheimer cut HCI Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 13th. One equities 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. Based on data from MarketBeat.com, HCI Group currently has an average rating of “Buy” and a consensus price target of $230.00.

HCI Group Trading Down 0.5%

HCI Group stock opened at $173.83 on Friday. HCI Group, Inc. has a 52-week low of $109.43 and a 52-week high of $210.50. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 11.10 and a beta of 1.20. The firm has a 50-day moving average price of $183.07 and a two-hundred day moving average price of $172.68.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a return on equity of 31.18% and a net margin of 24.97%.The company had revenue of $216.35 million for the quarter, compared to analysts’ expectations of $223.53 million. Sell-side analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Dividend Announcement

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

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.