HCI Group, Inc. $HCI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in HCI Group, Inc. (NYSE:HCI) by 71.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,185 shares of the insurance provider’s stock after selling 197,271 shares during the period. Bank of New York Mellon Corp’s holdings in HCI Group were worth $12,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Global Assets Advisory LLC bought a new position in shares of HCI Group during the second quarter worth about $46,000. USA Financial Formulas boosted its stake in HCI Group by 250.0% during the 2nd quarter. USA Financial Formulas now owns 518 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 370 shares during the period. Russell Investments Group Ltd. boosted its stake in HCI Group by 825.7% during the 1st quarter. Russell Investments Group Ltd. now owns 648 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 578 shares during the period. GAMMA Investing LLC grew its position in HCI Group by 24.5% in the 2nd quarter. GAMMA Investing LLC now owns 742 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 146 shares during the last quarter. Finally, Simplex Trading LLC acquired a new stake in shares of HCI Group in the first quarter valued at approximately $148,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

HCI has been the subject of several analyst reports. Citizens Jmp boosted their price objective on HCI Group from $225.00 to $255.00 and gave the stock a “market outperform” rating in a research report on Monday, November 10th. Truist Financial lifted their target price on HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Wall Street Zen upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Oppenheimer lowered HCI Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of HCI Group in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $230.00.

HCI Group Stock Up 0.4%

Shares of HCI stock opened at $174.48 on Wednesday. HCI Group, Inc. has a 1 year low of $106.03 and a 1 year high of $210.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71. The business’s fifty day moving average is $190.30 and its 200-day moving average is $167.14. The stock has a market cap of $2.26 billion, a PE ratio of 15.47 and a beta of 1.16.

HCI Group (NYSE:HCI) last announced its earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share for the quarter, beating the consensus estimate of $2.44 by $2.46. HCI Group had a return on equity of 25.84% and a net margin of 18.58%.The business had revenue of $216.35 million during the quarter, compared to analysts’ expectations of $223.53 million. Equities analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. HCI Group’s payout ratio is currently 10.22%.

HCI Group Company 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.