HCI Group, Inc. (NYSE:HCI) Sees Significant Decrease in Short Interest

HCI Group, Inc. (NYSE:HCI) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 1,140,000 shares, a drop of 5.8% from the October 15th total of 1,210,000 shares. Based on an average trading volume of 158,700 shares, the short-interest ratio is presently 7.2 days. Approximately 13.9% of the shares of the company are short sold.

HCI Group Trading Up 1.0 %

Shares of HCI stock opened at $109.57 on Wednesday. The firm has a fifty day moving average of $110.33 and a 200-day moving average of $100.33. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 9.15 and a beta of 1.12. HCI Group has a 52-week low of $81.35 and a 52-week high of $124.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47.

HCI Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, November 15th. HCI Group’s payout ratio is currently 13.37%.

Institutional Investors Weigh In On HCI Group

A number of large investors have recently bought and sold shares of HCI. Hood River Capital Management LLC grew its holdings in shares of 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 worth $70,745,000 after purchasing an additional 45,668 shares during the last quarter. Khrom Capital Management LLC raised its holdings in HCI Group by 225.3% during the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock worth $54,123,000 after purchasing an additional 406,698 shares during the last quarter. Vanguard Group Inc. lifted its position in HCI Group by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock valued at $58,034,000 after purchasing an additional 31,234 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of HCI Group by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 339,951 shares of the insurance provider’s stock valued at $31,333,000 after purchasing an additional 17,077 shares during the last quarter. Finally, State Street Corp grew its position in shares of HCI Group by 7.7% during the 3rd quarter. State Street Corp now owns 291,244 shares of the insurance provider’s stock worth $31,181,000 after buying an additional 20,910 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com cut HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Truist Financial lifted their target price on shares of HCI Group from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Compass Point restated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Finally, Oppenheimer lifted their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company 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.