Allspring Global Investments Holdings LLC Increases Position in HCI Group, Inc. (NYSE:HCI)

Allspring Global Investments Holdings LLC increased its stake in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 1,648.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,996 shares of the insurance provider's stock after buying an additional 53,737 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.54% of HCI Group worth $6,102,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HCI. Point72 DIFC Ltd purchased a new stake in HCI Group in the second quarter valued at $26,000. Gladius Capital Management LP purchased a new stake in HCI Group in the second quarter valued at $31,000. GAMMA Investing LLC boosted its holdings in HCI Group by 80.9% in the third quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 178 shares during the last quarter. CWM LLC boosted its holdings in 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 purchasing an additional 495 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in HCI Group in the second quarter valued at $201,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Price Performance

Shares of HCI Group stock traded up $1.14 during trading hours on Monday, reaching $117.10. The stock had a trading volume of 85,446 shares, compared to its average volume of 146,498. HCI Group, Inc. has a twelve month low of $56.82 and a twelve month high of $124.00. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average is $104.24 and its 200 day moving average is $100.12. The firm has a market capitalization of $1.23 billion, a PE ratio of 11.89 and a beta of 1.13.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.63. HCI Group had a net margin of 21.63% and a return on equity of 44.01%. The firm had revenue of $206.25 million during the quarter, compared to the consensus estimate of $196.67 million. During the same quarter in the prior year, the firm earned $1.22 EPS. Equities analysts expect that HCI Group, Inc. will post 6.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HCI has been the topic of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $145.00 price target on shares of HCI Group in a report on Tuesday, October 15th. Compass Point reiterated a "neutral" rating and issued a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Finally, StockNews.com downgraded shares of HCI Group from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.25.

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.