HCI Group, Inc. (NYSE:HCI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in HCI Group, Inc. (NYSE:HCI) by 16.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,180 shares of the insurance provider’s stock after acquiring an additional 7,914 shares during the period. Principal Financial Group Inc.’s holdings in HCI Group were worth $6,015,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Hood River Capital Management LLC lifted its stake in shares of HCI Group by 6.3% in the 2nd quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider’s stock valued at $70,745,000 after purchasing an additional 45,668 shares during the last quarter. Khrom Capital Management LLC raised its stake in shares of HCI Group by 225.3% in the 2nd quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock valued at $54,123,000 after acquiring an additional 406,698 shares during the period. Dimensional Fund Advisors LP lifted its stake in HCI Group by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 339,951 shares of the insurance provider’s stock worth $31,333,000 after purchasing an additional 17,077 shares in the last quarter. State Street Corp grew its stake in shares of HCI Group by 7.7% in the third quarter. State Street Corp now owns 291,244 shares of the insurance provider’s stock valued at $31,181,000 after buying an additional 20,910 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of HCI Group by 28.7% in the 3rd quarter. Geode Capital Management LLC now owns 219,821 shares of the insurance provider’s stock valued at $23,538,000 after buying an additional 48,969 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HCI shares. Truist Financial reissued a “buy” rating and set a $145.00 price target on shares of HCI Group in a research report on Tuesday, December 17th. Oppenheimer raised their target price on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price target on shares of HCI Group in a report on Tuesday, October 15th. Finally, Compass Point reaffirmed a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, HCI Group currently has an average rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Price Performance

HCI stock opened at $116.53 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.23 billion, a P/E ratio of 9.74 and a beta of 1.11. The business has a 50 day simple moving average of $115.03 and a 200-day simple moving average of $103.61. HCI Group, Inc. has a twelve month low of $81.35 and a twelve month high of $126.50.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a yield of 1.37%. HCI Group’s dividend payout ratio is presently 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.