HCI Group, Inc. (NYSE:HCI) Shares Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC grew its holdings in HCI Group, Inc. (NYSE:HCI) by 34.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 532,607 shares of the insurance provider’s stock after purchasing an additional 136,058 shares during the quarter. Hood River Capital Management LLC owned approximately 6.20% of HCI Group worth $28,548,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Voya Investment Management LLC boosted its position in HCI Group by 83.0% during the fourth quarter. Voya Investment Management LLC now owns 377,416 shares of the insurance provider’s stock worth $14,942,000 after acquiring an additional 171,166 shares during the last quarter. Wasatch Advisors LP acquired a new stake in HCI Group during the first quarter worth approximately $8,558,000. Bank of America Corp DE boosted its position in HCI Group by 859.9% during the first quarter. Bank of America Corp DE now owns 111,620 shares of the insurance provider’s stock worth $5,983,000 after acquiring an additional 99,992 shares during the last quarter. Millennium Management LLC boosted its position in HCI Group by 160.2% during the second quarter. Millennium Management LLC now owns 139,280 shares of the insurance provider’s stock worth $9,438,000 after acquiring an additional 85,759 shares during the last quarter. Finally, Portolan Capital Management LLC acquired a new stake in HCI Group during the first quarter worth approximately $5,815,000. 65.82% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Stock Performance

NYSE:HCI opened at $52.93 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.10. The company has a market cap of $454.67 million, a P/E ratio of -19.90 and a beta of 0.90. HCI Group, Inc. has a fifty-two week low of $27.65 and a fifty-two week high of $70.00. The firm’s 50 day moving average is $58.09 and its two-hundred day moving average is $55.85.

HCI Group (NYSE:HCI) last issued its earnings results on Tuesday, August 8th. The insurance provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.62. HCI Group had a negative net margin of 4.30% and a negative return on equity of 10.06%. The business had revenue of $127.33 million for the quarter, compared to the consensus estimate of $122.85 million. Analysts expect that HCI Group, Inc. will post 3.25 EPS for the current year.

HCI Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, August 17th. HCI Group’s dividend payout ratio is presently -60.15%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial raised their target price on shares of HCI Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Compass Point increased their price target on shares of HCI Group from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. William Blair initiated coverage on shares of HCI Group in a research note on Friday, August 11th. They set a “market perform” rating on the stock. Finally, StockNews.com initiated coverage on shares of HCI Group in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, 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.