The Manufacturers Life Insurance Company purchased a new position in shares of HCI Group, Inc. (NYSE:HCI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,043 shares of the insurance provider’s stock, valued at approximately $211,000.
A number of other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of HCI Group by 0.3% in the fourth quarter. Renaissance Technologies LLC now owns 224,213 shares of the insurance provider’s stock valued at $11,726,000 after purchasing an additional 594 shares during the period. Janney Montgomery Scott LLC boosted its position in HCI Group by 9.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,682 shares of the insurance provider’s stock valued at $349,000 after buying an additional 603 shares during the last quarter. Barclays PLC increased its holdings in HCI Group by 6.4% in the 4th quarter. Barclays PLC now owns 12,614 shares of the insurance provider’s stock worth $659,000 after buying an additional 756 shares during the period. Rhumbline Advisers increased its holdings in HCI Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 20,062 shares of the insurance provider’s stock worth $1,049,000 after buying an additional 837 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in HCI Group by 10.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,891 shares of the insurance provider’s stock worth $779,000 after buying an additional 1,434 shares during the last quarter. Institutional investors and hedge funds own 61.86% of the company’s stock.
A number of analysts have recently weighed in on the stock. JMP Securities increased their price objective on shares of HCI Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 18th. Truist lifted their price objective on HCI Group from $60.00 to $88.00 in a research note on Friday, March 12th. Truist Securities boosted their price objective on HCI Group from $60.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, March 18th. Finally, Zacks Investment Research raised HCI Group from a “sell” rating to a “hold” rating in a report on Thursday, March 11th.
HCI Group (NYSE:HCI) last posted its earnings results on Thursday, March 11th. The insurance provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $70.31 million for the quarter, compared to analyst estimates of $68.99 million. HCI Group had a return on equity of 0.97% and a net margin of 10.21%. Equities analysts expect that HCI Group, Inc. will post 0.69 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Friday, February 19th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, February 18th. HCI Group’s dividend payout ratio (DPR) is 62.26%.
HCI Group Profile
HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.
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