HCI Group, Inc. (NYSE:HCI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 16.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,180 shares of the insurance provider's stock after purchasing an additional 7,914 shares during the quarter. Principal Financial Group Inc. owned approximately 0.53% of HCI Group worth $6,015,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in HCI. Hood River Capital Management LLC raised its position in HCI Group by 6.3% in the 2nd quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider's stock valued at $70,745,000 after purchasing an additional 45,668 shares during the last quarter. Khrom Capital Management LLC grew its holdings in shares of HCI Group by 225.3% during the second quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider's stock worth $54,123,000 after buying an additional 406,698 shares during the last quarter. Dimensional Fund Advisors LP increased its position in HCI Group by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 339,951 shares of the insurance provider's stock valued at $31,333,000 after acquiring an additional 17,077 shares during the period. State Street Corp increased its position in HCI Group by 7.7% in the 3rd quarter. State Street Corp now owns 291,244 shares of the insurance provider's stock valued at $31,181,000 after acquiring an additional 20,910 shares during the period. Finally, Geode Capital Management LLC raised its stake in HCI Group by 28.7% during the 3rd quarter. Geode Capital Management LLC now owns 219,821 shares of the insurance provider's stock valued at $23,538,000 after acquiring an additional 48,969 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on HCI shares. JMP Securities reiterated a "market outperform" rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Compass Point reissued a "neutral" rating and issued a $120.00 price objective (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Oppenheimer raised their target price 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. Finally, Truist Financial reiterated a "buy" rating and set 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.00.

HCI Group Price Performance

Shares of NYSE:HCI traded down $2.06 on Thursday, reaching $114.47. 119,472 shares of the company were exchanged, compared to its average volume of 130,246. The company has a 50-day moving average of $114.90 and a 200-day moving average of $103.68. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 9.56 and a beta of 1.11. HCI Group, Inc. has a 1-year low of $81.35 and a 1-year high of $126.50.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.40%. HCI Group's dividend payout ratio (DPR) is presently 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.