Oppenheimer & Co. Inc. Takes $370,000 Position in HCI Group, Inc. (NYSE:HCI)

Oppenheimer & Co. Inc. purchased a new position in HCI Group, Inc. (NYSE:HCI) during the third quarter, Holdings Channel.com reports. The firm purchased 3,453 shares of the insurance provider’s stock, valued at approximately $370,000.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of HCI Group by 29.0% during the 1st quarter. Sei Investments Co. now owns 6,461 shares of the insurance provider’s stock valued at $750,000 after acquiring an additional 1,453 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of HCI Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 499,948 shares of the insurance provider’s stock worth $58,034,000 after purchasing an additional 31,234 shares during the period. American International Group Inc. lifted its position in shares of HCI Group by 12.3% during the 1st quarter. American International Group Inc. now owns 3,910 shares of the insurance provider’s stock worth $454,000 after purchasing an additional 428 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in HCI Group by 17.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 5,980 shares of the insurance provider’s stock valued at $692,000 after purchasing an additional 895 shares during the period. Finally, Quadrature Capital Ltd grew its holdings in HCI Group by 19.0% in the 1st quarter. Quadrature Capital Ltd now owns 35,520 shares of the insurance provider’s stock valued at $4,120,000 after buying an additional 5,676 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Price Performance

Shares of HCI stock opened at $110.26 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $1.16 billion, a PE 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 stock’s fifty day moving average is $110.88 and its 200-day moving average is $100.38.

HCI Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. HCI Group’s payout ratio is currently 13.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HCI shares. Oppenheimer upped their price objective 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 upped their target price on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Compass Point restated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Finally, StockNews.com downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.