Public Sector Pension Investment Board Grows Stock Holdings in HCI Group, Inc. $HCI

Public Sector Pension Investment Board grew its stake in shares of HCI Group, Inc. (NYSE:HCI) by 31.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 41,895 shares of the insurance provider’s stock after buying an additional 10,134 shares during the period. Public Sector Pension Investment Board’s holdings in HCI Group were worth $8,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in HCI. Rhumbline Advisers boosted its holdings in HCI Group by 7.0% in the 3rd quarter. Rhumbline Advisers now owns 27,173 shares of the insurance provider’s stock valued at $5,215,000 after purchasing an additional 1,769 shares during the period. Essex Investment Management Co. LLC raised its position in shares of HCI Group by 0.6% in the third quarter. Essex Investment Management Co. LLC now owns 60,318 shares of the insurance provider’s stock worth $11,577,000 after buying an additional 337 shares in the last quarter. Navellier & Associates Inc. boosted its stake in HCI Group by 5.7% during the third quarter. Navellier & Associates Inc. now owns 11,169 shares of the insurance provider’s stock valued at $2,144,000 after buying an additional 605 shares during the period. J.W. Cole Advisors Inc. bought a new stake in HCI Group during the third quarter valued at $574,000. Finally, Envestnet Asset Management Inc. grew its position in HCI Group by 175.0% during the third quarter. Envestnet Asset Management Inc. now owns 13,985 shares of the insurance provider’s stock worth $2,684,000 after buying an additional 8,899 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised HCI Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Zacks Research cut shares of HCI Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citigroup reaffirmed a “market outperform” rating on shares of HCI Group in a research note on Friday, January 16th. Oppenheimer cut shares of HCI Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 13th. Finally, Truist Financial increased their price target on shares of HCI Group from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.67.

HCI Group Stock Up 1.3%

Shares of HCI opened at $159.96 on Wednesday. HCI Group, Inc. has a 1 year low of $115.65 and a 1 year high of $210.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50 day simple moving average of $174.11 and a two-hundred day simple moving average of $177.02. The firm has a market cap of $2.07 billion, a P/E ratio of 10.21 and a beta of 1.21.

HCI Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. HCI Group’s dividend payout ratio is 10.22%.

HCI Group Profile

HCI Group, Inc (NYSE: HCI) is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.