Martingale Asset Management L P Raises Stock Position in HCI Group, Inc. (NYSE:HCI)

Martingale Asset Management L P lifted its holdings in HCI Group, Inc. (NYSE:HCI) by 40.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,723 shares of the insurance provider’s stock after buying an additional 3,113 shares during the quarter. Martingale Asset Management L P owned approximately 0.10% of HCI Group worth $1,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its position in shares of HCI Group by 153.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider’s stock worth $860,000 after buying an additional 5,649 shares during the period. Victory Capital Management Inc. grew its position in shares of HCI Group by 152.7% in the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock worth $2,380,000 after buying an additional 13,434 shares during the period. Royce & Associates LP purchased a new stake in shares of HCI Group in the 3rd quarter worth about $621,000. AQR Capital Management LLC grew its position in shares of HCI Group by 27.2% in the 2nd quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock worth $4,905,000 after buying an additional 11,365 shares during the period. Finally, BOKF NA purchased a new stake in shares of HCI Group in the 2nd quarter worth about $533,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Price Performance

HCI opened at $121.87 on Monday. 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 stock has a market capitalization of $1.28 billion, a P/E ratio of 10.18 and a beta of 1.12. The company’s 50-day simple moving average is $112.53 and its two-hundred day simple moving average is $100.74. HCI Group, Inc. has a 52-week low of $81.35 and a 52-week high of $124.95.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s dividend payout ratio is currently 13.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HCI. JMP Securities reiterated a “market outperform” rating and issued a $145.00 price target on shares of HCI Group in a research note on Tuesday, October 15th. Oppenheimer upped their price target on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Compass Point reiterated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Finally, Truist Financial upped 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, HCI Group presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

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.