Sierra Summit Advisors LLC acquired a new stake in HCI Group, Inc. (NYSE:HCI – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,490 shares of the insurance provider’s stock, valued at approximately $669,000.
Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in HCI Group by 175.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 13,985 shares of the insurance provider’s stock valued at $2,684,000 after acquiring an additional 8,899 shares during the last quarter. American Century Companies Inc. grew its holdings in HCI Group by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 556,670 shares of the insurance provider’s stock valued at $106,842,000 after buying an additional 35,029 shares during the last quarter. Quantbot Technologies LP acquired a new stake in HCI Group during the 3rd quarter valued at $1,340,000. Principal Financial Group Inc. grew its holdings in HCI Group by 28.4% during the 3rd quarter. Principal Financial Group Inc. now owns 73,685 shares of the insurance provider’s stock valued at $14,142,000 after buying an additional 16,287 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in HCI Group by 10.4% during the 4th quarter. Assetmark Inc. now owns 35,806 shares of the insurance provider’s stock valued at $6,864,000 after buying an additional 3,380 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.
HCI Group Price Performance
HCI stock opened at $158.51 on Friday. HCI Group, Inc. has a 52-week low of $136.37 and a 52-week high of $210.50. The stock’s fifty day simple moving average is $155.24 and its 200-day simple moving average is $167.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 6.96 and a beta of 1.09.
HCI Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. HCI Group’s dividend payout ratio (DPR) is 7.02%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on HCI shares. Zacks Research upgraded HCI Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen cut HCI Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of HCI Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, HCI Group has an average rating of “Buy” and an average price target of $231.67.
View Our Latest Stock Analysis on HCI
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.
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