Navellier & Associates Inc. Decreases Stake in HCI Group, Inc. (NYSE:HCI)

Navellier & Associates Inc. cut its position in HCI Group, Inc. (NYSE:HCI) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,151 shares of the insurance provider’s stock after selling 117 shares during the period. Navellier & Associates Inc.’s holdings in HCI Group were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC lifted its holdings in HCI Group by 108.0% during the 3rd quarter. Intech Investment Management LLC now owns 4,526 shares of the insurance provider’s stock worth $485,000 after buying an additional 2,350 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in HCI Group in the third quarter valued at approximately $1,767,000. Thrivent Financial for Lutherans boosted its holdings in shares of HCI Group by 8.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,629 shares of the insurance provider’s stock valued at $710,000 after buying an additional 541 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of HCI Group during the third quarter worth about $621,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of HCI Group in the 3rd quarter valued at about $370,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HCI has been the topic of a number of research reports. Oppenheimer raised their price target on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Compass Point reissued a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. StockNews.com downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a research note 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 research report on Tuesday, October 15th. Finally, Truist Financial increased their price target on HCI Group from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Stock Up 2.1 %

Shares of NYSE HCI opened at $110.26 on Friday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 9.21 and a beta of 1.12. HCI Group, Inc. has a 52 week low of $81.35 and a 52 week high of $124.00. The firm has a 50-day moving average price of $110.88 and a 200 day moving average price of $100.38. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40.

HCI Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s dividend payout ratio (DPR) is 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.