Chartwell Investment Partners LLC Cuts Position in HCI Group, Inc. (NYSE:HCI)

Chartwell Investment Partners LLC lowered its stake in shares of HCI Group, Inc. (NYSE:HCI) by 47.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,913 shares of the insurance provider’s stock after selling 3,476 shares during the period. Chartwell Investment Partners LLC’s holdings in HCI Group were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. acquired a new stake in HCI Group in the 1st quarter valued at about $939,000. SG Americas Securities LLC lifted its holdings in shares of HCI Group by 153.6% in the second quarter. SG Americas Securities LLC now owns 9,326 shares of the insurance provider’s stock valued at $860,000 after purchasing an additional 5,649 shares in the last quarter. Quadrature Capital Ltd grew its position in shares of HCI Group by 19.0% in the first quarter. Quadrature Capital Ltd now owns 35,520 shares of the insurance provider’s stock valued at $4,120,000 after purchasing an additional 5,676 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of HCI Group during the 1st quarter worth approximately $1,732,000. Finally, AQR Capital Management LLC raised its position in shares of HCI Group by 27.2% during the 2nd quarter. AQR Capital Management LLC now owns 53,218 shares of the insurance provider’s stock worth $4,905,000 after purchasing an additional 11,365 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HCI has been the topic of a number of analyst reports. StockNews.com cut HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Oppenheimer increased their price objective on HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Compass Point reiterated a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Truist Financial upped their target price on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, HCI Group has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Stock Performance

NYSE HCI opened at $112.53 on Thursday. The business’s 50-day moving average price is $109.26 and its 200 day moving average price is $100.38. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.40. HCI Group, Inc. has a twelve month low of $77.00 and a twelve month high of $124.00. The company has a market capitalization of $1.19 billion, a PE ratio of 9.39 and a beta of 1.12.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. HCI Group’s payout ratio is currently 13.37%.

About HCI Group

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.