Illinois Municipal Retirement Fund Has $302,000 Stock Holdings in HCI Group, Inc. (NYSE:HCI)

Illinois Municipal Retirement Fund lessened its holdings in HCI Group, Inc. (NYSE:HCI) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,457 shares of the insurance provider’s stock after selling 826 shares during the period. Illinois Municipal Retirement Fund’s holdings in HCI Group were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in HCI Group in the fourth quarter worth about $642,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in HCI Group by 399.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,773 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 1,418 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in HCI Group in the fourth quarter worth about $262,000. SG Americas Securities LLC acquired a new position in HCI Group in the fourth quarter worth about $155,000. Finally, Cedar Brook Financial Partners LLC acquired a new position in HCI Group in the fourth quarter worth about $201,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Stock Down 0.0 %

NYSE:HCI opened at $114.17 on Thursday. The stock’s fifty day moving average price is $110.37 and its two-hundred day moving average price is $92.37. HCI Group, Inc. has a 52-week low of $48.08 and a 52-week high of $121.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.10 and a beta of 1.14.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.06 earnings per share. On average, analysts anticipate that HCI Group, Inc. will post 10.33 EPS for the current year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, May 16th. HCI Group’s dividend payout ratio is 21.16%.

Insider Activity at HCI Group

In other news, CEO Paresh Patel purchased 500 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 349,500 shares in the company, valued at $38,794,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Paresh Patel bought 500 shares of HCI Group stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the acquisition, the chief executive officer now owns 349,500 shares in the company, valued at $38,794,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James Mark Harmsworth sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total value of $2,342,400.00. Following the transaction, the chief financial officer now owns 15,420 shares in the company, valued at approximately $1,805,990.40. The disclosure for this sale can be found here. Insiders have sold a total of 113,102 shares of company stock worth $13,198,303 over the last 90 days. Insiders own 25.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Compass Point raised their price objective on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a report on Friday, April 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of HCI Group in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.00.

HCI Group 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.