State Street Corp Acquires 20,910 Shares of HCI Group, Inc. (NYSE:HCI)

State Street Corp raised its stake in HCI Group, Inc. (NYSE:HCI) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 291,244 shares of the insurance provider’s stock after buying an additional 20,910 shares during the quarter. State Street Corp’s holdings in HCI Group were worth $31,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. New York State Teachers Retirement System grew its holdings in shares of HCI Group by 1.5% during the third quarter. New York State Teachers Retirement System now owns 10,393 shares of the insurance provider’s stock worth $1,113,000 after buying an additional 155 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in HCI Group by 2.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 6,088 shares of the insurance provider’s stock worth $561,000 after acquiring an additional 174 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of HCI Group by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 178 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of HCI Group by 75.0% in the third quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 213 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of HCI Group by 10.3% in the third quarter. Amalgamated Bank now owns 2,413 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a report on Tuesday, December 17th. Compass Point reiterated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a research report on Tuesday, October 15th. 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

HCI Group Stock Performance

Shares of HCI stock opened at $113.37 on Friday. The company has a fifty day moving average price of $114.85 and a two-hundred day moving average price of $102.44. HCI Group, Inc. has a one year low of $81.35 and a one year high of $126.50. The stock has a market cap of $1.19 billion, a P/E ratio of 9.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 15th were paid a $0.40 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.60 annualized dividend and a yield of 1.41%. HCI Group’s dividend payout ratio (DPR) is currently 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.