Assetmark Inc. Raises Stake in HCI Group, Inc. (NYSE:HCI)

Assetmark Inc. increased its stake in HCI Group, Inc. (NYSE:HCI) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,752 shares of the insurance provider’s stock after purchasing an additional 2,550 shares during the quarter. Assetmark Inc. owned 0.28% of HCI Group worth $3,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Khrom Capital Management LLC lifted its position in shares of HCI Group by 225.3% during 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. American Century Companies Inc. raised its holdings in HCI Group by 130.5% during the second quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock worth $10,164,000 after purchasing an additional 62,438 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in HCI Group by 1,648.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock valued at $6,102,000 after purchasing an additional 53,737 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of HCI Group by 6.3% in the second quarter. Hood River Capital Management LLC now owns 767,544 shares of the insurance provider’s stock valued at $70,745,000 after buying an additional 45,668 shares in the last quarter. Finally, West Coast Financial LLC acquired a new position in shares of HCI Group during the 2nd quarter worth $3,407,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Price Performance

Shares of NYSE:HCI opened at $115.80 on Wednesday. The company has a market cap of $1.21 billion, a P/E ratio of 9.57 and a beta of 1.12. The business has a fifty day simple moving average of $108.83 and a 200-day simple moving average of $100.37. HCI Group, Inc. has a 52 week low of $74.62 and a 52 week high of $124.00. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.41.

HCI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. HCI Group’s payout ratio is currently 13.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HCI shares. 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 report on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $145.00 price objective on shares of HCI Group in a research report on Tuesday, October 15th. Compass Point reissued a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Truist Financial upped their price objective on HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, StockNews.com cut HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, HCI Group 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.