HCI Group, Inc. (NYSE:HCI) Short Interest Down 5.8% in October

HCI Group, Inc. (NYSE:HCI) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,140,000 shares, a decline of 5.8% from the October 15th total of 1,210,000 shares. Currently, 13.9% of the shares of the stock are sold short. Based on an average daily volume of 158,700 shares, the days-to-cover ratio is currently 7.2 days.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCI. Compass Point reissued a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of HCI Group in a report on Monday, October 21st. JMP Securities reissued a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a research note on Tuesday, October 15th. Truist Financial raised their price target on HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Oppenheimer upped their price objective on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, StockNews.com cut HCI Group from a “buy” rating to a “hold” rating in a 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’s stock. According to MarketBeat.com, HCI Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Hedge Funds Weigh In On HCI Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Khrom Capital Management LLC boosted its stake in shares of HCI Group by 225.3% during the second quarter. Khrom Capital Management LLC now owns 587,204 shares of the insurance provider’s stock valued at $54,123,000 after purchasing an additional 406,698 shares during the period. Two Sigma Advisers LP raised its holdings in HCI Group by 196.5% during the 3rd quarter. Two Sigma Advisers LP now owns 151,800 shares of the insurance provider’s stock valued at $16,252,000 after buying an additional 100,600 shares during the last quarter. American Century Companies Inc. raised its holdings in HCI Group by 130.5% during the 2nd quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock valued at $10,164,000 after buying an additional 62,438 shares during the last quarter. Wellington Management Group LLP boosted its position in HCI Group by 58.3% during the 3rd quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock valued at $15,710,000 after buying an additional 54,050 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in HCI Group by 1,648.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock worth $6,102,000 after acquiring an additional 53,737 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

HCI Group Stock Performance

NYSE HCI opened at $108.44 on Tuesday. The company has a 50-day simple moving average of $110.17 and a two-hundred day simple moving average of $100.36. HCI Group has a 12-month low of $81.35 and a 12-month high of $124.00. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 9.06 and a beta of 1.12. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40.

HCI Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, November 15th. HCI Group’s dividend payout ratio is presently 13.37%.

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.