Verition Fund Management LLC Purchases 16,682 Shares of HCI Group, Inc. (NYSE:HCI)

Verition Fund Management LLC grew its position in shares of HCI Group, Inc. (NYSE:HCI - Free Report) by 762.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,869 shares of the insurance provider's stock after purchasing an additional 16,682 shares during the period. Verition Fund Management LLC owned approximately 0.18% of HCI Group worth $2,020,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HCI. Hood River Capital Management LLC boosted its stake in HCI Group by 6.3% during the second quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider's stock valued at $70,745,000 after buying an additional 45,668 shares during the period. Khrom Capital Management LLC boosted its position in shares of HCI Group by 225.3% during the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider's stock valued at $54,123,000 after acquiring an additional 406,698 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of HCI Group by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 339,951 shares of the insurance provider's stock worth $31,333,000 after purchasing an additional 17,077 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of HCI Group by 130.5% during the second quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider's stock worth $10,164,000 after purchasing an additional 62,438 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of HCI Group by 10.7% in the second quarter. Millennium Management LLC now owns 97,156 shares of the insurance provider's stock worth $8,955,000 after purchasing an additional 9,398 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HCI shares. Truist Financial boosted their price target on shares of HCI Group from $140.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Oppenheimer increased their target price on HCI Group from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Compass Point reaffirmed a "neutral" rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Finally, JMP Securities reiterated a "market outperform" rating and set a $145.00 price objective on shares of HCI Group in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

HCI Group Trading Down 0.1 %

NYSE:HCI traded down $0.08 during trading hours on Friday, reaching $116.52. The company's stock had a trading volume of 76,833 shares, compared to its average volume of 146,569. 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 firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.73 and a beta of 1.11. The firm has a 50-day simple moving average of $113.67 and a 200-day simple moving average of $101.35. HCI Group, Inc. has a 1 year low of $81.35 and a 1 year high of $126.50.

HCI Group Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. HCI Group's dividend payout ratio is currently 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.