Moran Wealth Management LLC Buys Shares of 15,627 HCI Group, Inc. $HCI

Moran Wealth Management LLC purchased a new position in shares of HCI Group, Inc. (NYSE:HCI) during the third quarter, Holdings Channel.com reports. The fund purchased 15,627 shares of the insurance provider’s stock, valued at approximately $2,999,000.

Other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP boosted its holdings in shares of HCI Group by 107.3% in the second quarter. Marshall Wace LLP now owns 158,224 shares of the insurance provider’s stock valued at $24,082,000 after acquiring an additional 81,884 shares in the last quarter. American Century Companies Inc. increased its position in shares of HCI Group by 15.2% during the 2nd quarter. American Century Companies Inc. now owns 521,641 shares of the insurance provider’s stock valued at $79,394,000 after purchasing an additional 68,860 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of HCI Group by 46.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 185,430 shares of the insurance provider’s stock worth $28,222,000 after buying an additional 59,134 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of HCI Group by 92.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 117,580 shares of the insurance provider’s stock valued at $21,971,000 after buying an additional 56,475 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in HCI Group during the second quarter valued at about $7,449,000. 86.99% of the stock is owned by institutional investors and hedge funds.

HCI Group Stock Down 0.5%

Shares of HCI stock opened at $173.83 on Friday. HCI Group, Inc. has a 12 month low of $109.43 and a 12 month high of $210.50. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.25 billion, a PE ratio of 11.10 and a beta of 1.20. The stock has a 50 day moving average of $183.07 and a 200-day moving average of $172.68.

HCI Group (NYSE:HCI) last announced its earnings results on Thursday, November 6th. The insurance provider reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $2.46. The business had revenue of $216.35 million for the quarter, compared to analyst estimates of $223.53 million. HCI Group had a net margin of 24.97% and a return on equity of 31.18%. On average, equities analysts predict that HCI Group, Inc. will post 6.78 EPS for the current year.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, November 21st. HCI Group’s dividend payout ratio (DPR) is presently 10.22%.

Wall Street Analyst Weigh In

HCI has been the subject of a number of research analyst reports. Truist Financial upped their price target on shares of HCI Group from $190.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 7th. Oppenheimer lowered shares of HCI Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 13th. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of HCI Group in a report on Monday, December 29th. Finally, Wall Street Zen upgraded HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $230.00.

HCI Group Profile

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.