Allspring Global Investments Holdings LLC Acquires 45,920 Shares of HCI Group, Inc. (NYSE:HCI)

Allspring Global Investments Holdings LLC lifted its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 80.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,916 shares of the insurance provider's stock after purchasing an additional 45,920 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.98% of HCI Group worth $11,781,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Point72 DIFC Ltd boosted its holdings in HCI Group by 75.0% in the 3rd quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider's stock valued at $53,000 after purchasing an additional 213 shares during the period. GAMMA Investing LLC boosted its position in shares of HCI Group by 28.4% during the 4th quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider's stock valued at $60,000 after acquiring an additional 113 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of HCI Group by 49.1% during the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider's stock worth $98,000 after purchasing an additional 300 shares in the last quarter. CWM LLC increased its position in shares of HCI Group by 34.2% in the third quarter. CWM LLC now owns 1,240 shares of the insurance provider's stock worth $133,000 after purchasing an additional 316 shares during the last quarter. Finally, Amalgamated Bank raised its stake in HCI Group by 10.3% in the third quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider's stock valued at $258,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HCI shares. Oppenheimer boosted their price target on shares of HCI Group from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Truist Financial reissued a "buy" rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.00.

HCI Group Trading Down 0.4 %

Shares of HCI traded down $0.49 during mid-day trading on Friday, reaching $117.42. The company's stock had a trading volume of 88,867 shares, compared to its average volume of 98,840. HCI Group, Inc. has a 52 week low of $83.64 and a 52 week high of $126.50. The stock has a market cap of $1.24 billion, a PE ratio of 9.81 and a beta of 1.12. The company's fifty day moving average price is $118.14 and its two-hundred day moving average price is $110.71. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a $0.40 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. HCI Group's dividend payout ratio is currently 13.37%.

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.