Legato Capital Management LLC Cuts Stock Holdings in HCI Group, Inc. (NYSE:HCI)

Legato Capital Management LLC lessened its holdings in HCI Group, Inc. (NYSE:HCI - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,594 shares of the insurance provider's stock after selling 3,227 shares during the quarter. Legato Capital Management LLC owned 0.10% of HCI Group worth $1,235,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in HCI Group by 26.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,130 shares of the insurance provider's stock worth $288,000 after acquiring an additional 658 shares during the period. GAMMA Investing LLC lifted its position in shares of HCI Group by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider's stock worth $43,000 after buying an additional 178 shares in the last quarter. CWM LLC lifted its position in shares of HCI Group by 34.2% during the 3rd quarter. CWM LLC now owns 1,240 shares of the insurance provider's stock worth $133,000 after buying an additional 316 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of HCI Group by 1,648.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider's stock worth $6,102,000 after buying an additional 53,737 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of HCI Group by 56.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 35,315 shares of the insurance provider's stock worth $3,781,000 after buying an additional 12,755 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

HCI has been the topic of a number of analyst reports. Oppenheimer boosted their target price on shares of HCI Group from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Compass Point reissued a "neutral" rating and issued a $120.00 price target (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Finally, Truist Financial reissued a "buy" rating and issued a $145.00 price target on shares of HCI Group in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

HCI Group Trading Down 1.4 %

Shares of NYSE:HCI traded down $1.74 during midday trading on Friday, hitting $118.59. 52,365 shares of the stock traded hands, compared to its average volume of 92,144. The stock has a market capitalization of $1.25 billion, a PE ratio of 9.91 and a beta of 1.12. The business's 50 day moving average is $117.77 and its two-hundred day moving average is $110.09. 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 one year low of $83.64 and a one year high of $126.50.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, February 21st. HCI Group's dividend payout ratio (DPR) is 13.37%.

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.