Point72 Asset Management L.P. Grows Stock Holdings in HCI Group, Inc. (NYSE:HCI)

Point72 Asset Management L.P. raised its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 196.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,169 shares of the insurance provider's stock after buying an additional 8,063 shares during the quarter. Point72 Asset Management L.P. owned about 0.12% of HCI Group worth $1,303,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in HCI Group during the first quarter valued at about $242,000. CWM LLC lifted its position in shares of HCI Group by 115.4% in the second quarter. CWM LLC now owns 924 shares of the insurance provider's stock valued at $85,000 after acquiring an additional 495 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of HCI Group by 153.6% in the second quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider's stock valued at $860,000 after acquiring an additional 5,649 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of HCI Group in the second quarter valued at about $31,000. Finally, West Coast Financial LLC purchased a new stake in shares of HCI Group in the second quarter worth about $3,407,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

HCI Group Stock Performance

HCI traded up $1.59 during midday trading on Wednesday, hitting $115.58. 65,858 shares of the company were exchanged, compared to its average volume of 145,725. The company's 50 day simple moving average is $114.00 and its 200 day simple moving average is $101.63. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.52 and a beta of 1.11. 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, Inc. has a 1-year low of $81.35 and a 1-year high of $126.50.

HCI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group's dividend payout ratio is currently 13.37%.

Analyst Upgrades and Downgrades

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