Principal Financial Group Inc. Acquires 4,152 Shares of HCI Group, Inc. (NYSE:HCI)

Principal Financial Group Inc. increased its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,332 shares of the insurance provider's stock after acquiring an additional 4,152 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of HCI Group worth $7,030,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HCI. Louisiana State Employees Retirement System grew its stake in shares of HCI Group by 10.8% during the third quarter. Louisiana State Employees Retirement System now owns 4,100 shares of the insurance provider's stock worth $439,000 after purchasing an additional 400 shares during the period. State of Alaska Department of Revenue grew its position in shares of HCI Group by 11.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,815 shares of the insurance provider's stock worth $515,000 after buying an additional 510 shares during the period. Nisa Investment Advisors LLC raised its position in shares of HCI Group by 49.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider's stock valued at $98,000 after acquiring an additional 300 shares during the period. New York State Teachers Retirement System raised its position in shares of HCI Group by 1.5% in the 3rd quarter. New York State Teachers Retirement System now owns 10,393 shares of the insurance provider's stock valued at $1,113,000 after acquiring an additional 155 shares during the period. Finally, Amalgamated Bank boosted its stake in HCI Group by 10.3% during the 3rd quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider's stock worth $258,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages have commented on HCI. Truist Financial reaffirmed a "buy" rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, December 17th. Oppenheimer upped their price objective on shares of HCI Group from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $140.00.

HCI Group Stock Down 1.6 %

NYSE HCI traded down $2.14 during trading hours on Thursday, reaching $135.11. 70,210 shares of the company's stock were exchanged, compared to its average volume of 140,908. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.29 and a beta of 1.12. The company's 50-day moving average is $120.93 and its two-hundred day moving average is $113.24. HCI Group, Inc. has a one year low of $83.65 and a one year high of $140.72.

HCI Group (NYSE:HCI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($2.75) by $3.06. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. The company had revenue of $161.88 million during the quarter, compared to analysts' expectations of $175.11 million. On average, analysts forecast that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, February 21st. HCI Group's dividend payout ratio (DPR) is presently 18.18%.

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.