Great Lakes Advisors LLC Sells 14,761 Shares of HCI Group, Inc. $HCI

Great Lakes Advisors LLC trimmed its stake in HCI Group, Inc. (NYSE:HCI) by 49.4% in the third quarter, HoldingsChannel reports. The firm owned 15,149 shares of the insurance provider’s stock after selling 14,761 shares during the period. Great Lakes Advisors LLC’s holdings in HCI Group were worth $2,908,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Quent Capital LLC bought a new position in shares of HCI Group during the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC raised its stake in HCI Group by 557.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider’s stock worth $33,000 after buying an additional 184 shares during the period. Global Assets Advisory LLC acquired a new position in HCI Group during the 2nd quarter worth approximately $46,000. Caldwell Trust Co bought a new position in HCI Group in the second quarter worth approximately $83,000. Finally, State of Wyoming grew its stake in HCI Group by 52.6% in the second quarter. State of Wyoming now owns 743 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HCI. Truist Financial upped their target price on HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Zacks Research lowered shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Citigroup reiterated a “market outperform” rating on shares of HCI Group in a report on Friday, January 16th. Weiss Ratings restated a “buy (b)” rating on shares of HCI Group in a report on Monday, December 29th. Finally, Citizens Jmp raised their price target on shares of HCI Group from $225.00 to $255.00 and gave the company a “market outperform” rating in a research report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

HCI Group Price Performance

HCI opened at $158.76 on Friday. HCI Group, Inc. has a 1 year low of $115.65 and a 1 year high of $210.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 10.14 and a beta of 1.20. The firm’s fifty day moving average price is $177.67 and its two-hundred day moving average price is $175.15.

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 net margin of 24.97% and a return on equity of 31.18%. The company had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. As a group, analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, February 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. HCI Group’s dividend payout ratio (DPR) is currently 10.22%.

HCI Group Profile

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.