Janney Montgomery Scott LLC Decreases Stake in HCI Group, Inc. (NYSE:HCI)

Janney Montgomery Scott LLC trimmed its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 63.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,735 shares of the insurance provider's stock after selling 13,511 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of HCI Group worth $828,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of HCI Group by 153.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider's stock valued at $860,000 after purchasing an additional 5,649 shares in the last quarter. Quadrature Capital Ltd raised its stake in HCI Group by 19.0% in the first quarter. Quadrature Capital Ltd now owns 35,520 shares of the insurance provider's stock valued at $4,120,000 after buying an additional 5,676 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in HCI Group during the 1st quarter worth about $1,732,000. AQR Capital Management LLC boosted its position in shares of HCI Group by 27.2% during the 2nd quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider's stock worth $4,905,000 after acquiring an additional 11,365 shares in the last quarter. Finally, BOKF NA acquired a new position in shares of HCI Group during the 2nd quarter worth about $533,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HCI has been the subject of several recent analyst reports. Oppenheimer boosted their target price on HCI Group from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. JMP Securities reissued a "market outperform" rating and issued a $145.00 target price on shares of HCI Group in a research report on Tuesday, October 15th. Truist Financial lifted their price target on HCI Group from $140.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. StockNews.com downgraded HCI Group from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Finally, Compass Point reaffirmed a "neutral" rating and issued a $120.00 target price (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, HCI Group currently has an average rating of "Moderate Buy" and an average target price of $140.00.

HCI Group Stock Performance

Shares of NYSE HCI traded down $3.55 during mid-day trading on Monday, hitting $108.43. 155,450 shares of the company were exchanged, compared to its average volume of 146,534. The stock has a 50 day simple moving average of $110.17 and a 200-day simple moving average of $100.36. HCI Group, Inc. has a 1-year low of $81.35 and a 1-year high of $124.00. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 9.36 and a beta of 1.12.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group's payout ratio 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.