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

Assetmark Inc. raised its position in HCI Group, Inc. (NYSE:HCI) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,752 shares of the insurance provider’s stock after purchasing an additional 2,550 shares during the quarter. Assetmark Inc.’s holdings in HCI Group were worth $3,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd purchased a new position in HCI Group in the second quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new position in shares of HCI Group during the 2nd quarter valued at $31,000. GAMMA Investing LLC boosted its position in HCI Group by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 178 shares during the period. Nisa Investment Advisors LLC boosted its position in HCI Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 911 shares of the insurance provider’s stock worth $98,000 after purchasing an additional 300 shares during the period. Finally, CWM LLC raised its position in HCI Group by 115.4% in the second quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 495 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HCI has been the subject of several analyst reports. StockNews.com downgraded HCI Group from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and issued 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 target price (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Oppenheimer raised their price target 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. Finally, Truist Financial boosted their price objective on shares of HCI Group from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Trading Up 1.1 %

HCI opened at $115.80 on Wednesday. HCI Group, Inc. has a 12-month low of $74.62 and a 12-month high of $124.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $1.21 billion, a PE ratio of 9.57 and a beta of 1.12. The firm’s fifty day moving average price is $108.83 and its 200 day moving average price is $100.37.

HCI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be paid a $0.40 dividend. 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 1.38%. HCI Group’s dividend payout ratio (DPR) is presently 13.37%.

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.