Versor Investments LP Purchases New Shares in HCI Group, Inc. (NYSE:HCI)

Versor Investments LP purchased a new stake in shares of HCI Group, Inc. (NYSE:HCI) during the 3rd quarter, HoldingsChannel reports. The firm purchased 4,111 shares of the insurance provider’s stock, valued at approximately $440,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HCI. Khrom Capital Management LLC lifted its holdings in HCI Group by 225.3% during the second quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock valued at $54,123,000 after purchasing an additional 406,698 shares in the last quarter. American Century Companies Inc. lifted its holdings in HCI Group by 130.5% during the second quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock valued at $10,164,000 after purchasing an additional 62,438 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in HCI Group by 1,648.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock valued at $6,102,000 after purchasing an additional 53,737 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in HCI Group by 6.3% during the second quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider’s stock valued at $70,745,000 after purchasing an additional 45,668 shares in the last quarter. Finally, West Coast Financial LLC purchased a new position in HCI Group during the second quarter valued at $3,407,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a report on Tuesday, October 15th. Compass Point reissued a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Truist Financial raised 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. Finally, Oppenheimer raised 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

HCI Group Price Performance

HCI Group stock opened at $114.91 on Friday. HCI Group, Inc. has a 12-month low of $78.35 and a 12-month high of $124.00. The stock has a market cap of $1.21 billion, a P/E ratio of 9.60 and a beta of 1.12. The company has a 50-day moving average price of $109.58 and a 200 day moving average price of $100.47. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, November 15th. HCI Group’s payout ratio is currently 13.37%.

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.