Essex Investment Management Co. LLC Reduces Holdings in HCI Group, Inc. (NYSE:HCI)

Essex Investment Management Co. LLC lowered its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,335 shares of the insurance provider's stock after selling 6,244 shares during the quarter. HCI Group makes up approximately 1.7% of Essex Investment Management Co. LLC's holdings, making the stock its 5th biggest holding. Essex Investment Management Co. LLC owned approximately 0.78% of HCI Group worth $9,594,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in HCI Group in the fourth quarter worth $2,713,000. Proficio Capital Partners LLC bought a new position in shares of HCI Group in the fourth quarter valued at about $1,358,000. Assetmark Inc. lifted its position in HCI Group by 2.7% during the 4th quarter. Assetmark Inc. now owns 30,546 shares of the insurance provider's stock worth $3,560,000 after buying an additional 794 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in HCI Group by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 77,391 shares of the insurance provider's stock worth $9,018,000 after acquiring an additional 3,815 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in HCI Group by 25.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 4,841 shares of the insurance provider's stock valued at $564,000 after acquiring an additional 992 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

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HCI Group Trading Down 1.5 %

NYSE HCI traded down $2.04 on Thursday, reaching $137.29. The company had a trading volume of 48,897 shares, compared to its average volume of 136,785. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.47 and a beta of 1.14. The stock's 50 day moving average is $122.59 and its 200-day moving average is $114.61. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. HCI Group, Inc. has a 52 week low of $83.65 and a 52 week high of $140.98.

HCI Group (NYSE:HCI - Get Free Report) last posted its earnings results on Thursday, February 27th. The insurance provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($2.75) by $3.06. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. The company had revenue of $161.88 million for the quarter, compared to analyst estimates of $175.11 million. Equities analysts predict that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. HCI Group's dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reiterated a "buy" rating and set a $145.00 target price on shares of HCI Group in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.00.

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.