Geode Capital Management LLC Acquires 48,969 Shares of HCI Group, Inc. (NYSE:HCI)

Geode Capital Management LLC grew its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 28.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,821 shares of the insurance provider's stock after purchasing an additional 48,969 shares during the period. Geode Capital Management LLC owned approximately 2.09% of HCI Group worth $23,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HCI. Louisiana State Employees Retirement System lifted its holdings in HCI Group by 8.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,700 shares of the insurance provider's stock valued at $341,000 after purchasing an additional 300 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of HCI Group by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,636 shares of the insurance provider's stock valued at $6,050,000 after buying an additional 4,654 shares during the last quarter. Principal Financial Group Inc. grew its holdings in HCI Group by 6.3% during the 2nd quarter. Principal Financial Group Inc. now owns 48,266 shares of the insurance provider's stock worth $4,449,000 after acquiring an additional 2,879 shares in the last quarter. Rhumbline Advisers grew its stake in HCI Group by 12.5% in the second quarter. Rhumbline Advisers now owns 20,938 shares of the insurance provider's stock worth $1,930,000 after purchasing an additional 2,334 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new position in HCI Group during the 2nd quarter worth approximately $1,055,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Price Performance

Shares of HCI traded down $1.05 during midday trading on Friday, hitting $117.42. The company's stock had a trading volume of 95,996 shares, compared to its average volume of 145,106. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 9.81 and a beta of 1.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The company's fifty day simple moving average is $114.89 and its two-hundred day simple moving average is $103.17. HCI Group, Inc. has a one year low of $81.35 and a one year high of $126.50.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, November 15th. HCI Group's dividend payout ratio is presently 13.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HCI. Compass Point restated a "neutral" rating and set a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. Truist Financial reissued a "buy" rating and set a $145.00 price objective on shares of HCI Group in a report on Tuesday, December 17th. JMP Securities reiterated a "market outperform" rating and issued a $145.00 price target on shares of HCI Group in a report on Tuesday, October 15th. Finally, Oppenheimer increased their price target on shares of HCI Group from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $140.00.

About HCI Group

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.