Wellington Management Group LLP increased its holdings in HCI Group, Inc. (NYSE:HCI - Free Report) by 58.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,738 shares of the insurance provider's stock after purchasing an additional 54,050 shares during the period. Wellington Management Group LLP owned 1.39% of HCI Group worth $15,710,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in HCI Group during the second quarter valued at $26,000. GAMMA Investing LLC lifted its holdings in shares of HCI Group by 80.9% in the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. Nisa Investment Advisors LLC grew its position in HCI Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider's stock worth $98,000 after acquiring an additional 300 shares in the last quarter. CWM LLC increased its stake in HCI Group by 115.4% during the second quarter. CWM LLC now owns 924 shares of the insurance provider's stock worth $85,000 after acquiring an additional 495 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in HCI Group during the first quarter valued at approximately $242,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Compass Point restated a "neutral" rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. Truist Financial increased their price objective on shares of HCI Group from $140.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Oppenheimer upped their price objective on HCI Group from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, JMP Securities reissued a "market outperform" rating and set a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.00.
View Our Latest Analysis on HCI
HCI Group Stock Up 0.9 %
Shares of HCI stock traded up $1.01 during trading hours on Friday, reaching $114.24. 55,055 shares of the company's stock were exchanged, compared to its average volume of 145,553. The stock's fifty day moving average price is $114.00 and its two-hundred day moving average price is $101.93. 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 stock has a market cap of $1.20 billion, a PE ratio of 9.54 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 will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, November 15th. HCI Group's dividend payout ratio (DPR) is 13.37%.
HCI Group Profile
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Free Report)
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.
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