Assetmark Inc. Increases Stock Position in HCI Group, Inc. (NYSE:HCI)

Assetmark Inc. boosted its stake in HCI Group, Inc. (NYSE:HCI) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,546 shares of the insurance provider’s stock after purchasing an additional 794 shares during the quarter. Assetmark Inc.’s holdings in HCI Group were worth $3,560,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd lifted its stake in HCI Group by 75.0% in the 3rd quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 213 shares in the last quarter. GAMMA Investing LLC lifted its stake in HCI Group by 28.4% in the 4th quarter. GAMMA Investing LLC now owns 511 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 113 shares in the last quarter. Amalgamated Bank lifted its stake in HCI Group by 10.3% in the 3rd 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. Ieq Capital LLC purchased a new stake in HCI Group in the 4th quarter worth $311,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in HCI Group in the 3rd quarter worth $370,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

HCI Group Stock Up 1.0 %

Shares of NYSE:HCI opened at $136.20 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. HCI Group, Inc. has a 12 month low of $83.65 and a 12 month high of $140.72. The company has a 50-day moving average price of $121.30 and a 200 day moving average price of $113.82. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 11.38 and a beta of 1.14.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, February 27th. The insurance provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($2.75) by $3.06. HCI Group had a net margin of 19.37% and a return on equity of 34.17%. The firm had revenue of $161.88 million during the quarter, compared to the consensus estimate of $175.11 million. As a group, equities research analysts predict that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, February 21st. HCI Group’s payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

Separately, Truist Financial reiterated a “buy” rating and issued a $145.00 price target on shares of HCI Group in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $140.00.

HCI Group 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.