Russell Investments Group Ltd. Sells 1,240,260 Shares of HCI Group, Inc. (NYSE:HCI)

Russell Investments Group Ltd. decreased its position in HCI Group, Inc. (NYSE:HCI) by 99.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,129 shares of the insurance provider’s stock after selling 1,240,260 shares during the quarter. Russell Investments Group Ltd.’s holdings in HCI Group were worth $99,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in HCI Group in the 3rd quarter worth $2,885,000. Quadrature Capital Ltd lifted its position in shares of HCI Group by 253.1% during the 3rd quarter. Quadrature Capital Ltd now owns 19,151 shares of the insurance provider’s stock worth $1,039,000 after purchasing an additional 13,728 shares during the last quarter. GSA Capital Partners LLP boosted its stake in HCI Group by 100.6% during the 3rd quarter. GSA Capital Partners LLP now owns 21,527 shares of the insurance provider’s stock valued at $1,169,000 after purchasing an additional 10,797 shares during the period. Hsbc Holdings PLC acquired a new stake in HCI Group in the 3rd quarter valued at approximately $482,000. Finally, Federated Hermes Inc. acquired a new stake in HCI Group in the 4th quarter valued at approximately $642,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

HCI Group Stock Down 1.0 %

Shares of HCI opened at $98.49 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $111.03 and a two-hundred day moving average price of $97.25. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 10.02 and a beta of 1.15. HCI Group, Inc. has a 12 month low of $48.84 and a 12 month high of $121.57.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. The firm had revenue of $162.67 million for the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a return on equity of 40.30% and a net margin of 17.72%. During the same period in the prior year, the business posted $0.06 earnings per share. Equities analysts predict that HCI Group, Inc. will post 11.68 EPS for the current fiscal year.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 17th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.62%. HCI Group’s dividend payout ratio (DPR) is presently 16.28%.

Insiders Place Their Bets

In other news, CEO Paresh Patel bought 500 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the purchase, the chief executive officer now owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other HCI Group news, CEO Paresh Patel purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $111.00 per share, with a total value of $55,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 349,500 shares of the company’s stock, valued at approximately $38,794,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Mark Harmsworth sold 20,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the transaction, the chief financial officer now owns 15,420 shares in the company, valued at approximately $1,805,990.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,102 shares of company stock valued at $13,198,303. 25.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities increased their price objective on HCI Group from $120.00 to $135.00 and gave the company a “market outperform” rating in a research report on Thursday, May 9th. Compass Point boosted their price objective on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. StockNews.com upgraded shares of HCI Group from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a research report on Friday, April 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $127.75.

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.