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

HCI Group, Inc. (NYSE:HCI) saw a large decline in short interest in 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. Based on an average daily volume of 158,700 shares, the days-to-cover ratio is currently 7.2 days. Currently, 13.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com lowered HCI Group from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial increased their price target on HCI Group from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Oppenheimer boosted their price objective on HCI Group from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $145.00 target price on shares of HCI Group in a research report on Tuesday, October 15th. Finally, 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 research report on Monday, October 21st. Two equities research 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.com, HCI Group currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

HCI Group Stock Performance

NYSE:HCI opened at $108.44 on Tuesday. The business’s fifty day moving average is $110.17 and its 200 day moving average is $100.36. 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 debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47. HCI Group has a 52-week low of $81.35 and a 52-week high of $124.00.

HCI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend 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%.

Hedge Funds Weigh In On HCI Group

A number of large investors have recently modified their holdings of the company. New York State Teachers Retirement System increased its holdings in HCI Group by 1.5% during the 3rd quarter. New York State Teachers Retirement System now owns 10,393 shares of the insurance provider’s stock worth $1,113,000 after acquiring an additional 155 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of HCI Group by 2.9% in the second quarter. Thrivent Financial for Lutherans now owns 6,088 shares of the insurance provider’s stock worth $561,000 after purchasing an additional 174 shares during the period. GAMMA Investing LLC raised its position in shares of HCI Group by 80.9% in the third quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock worth $43,000 after buying an additional 178 shares in the last quarter. Swiss National Bank boosted its stake in HCI Group by 1.4% during the first quarter. Swiss National Bank now owns 14,400 shares of the insurance provider’s stock valued at $1,672,000 after buying an additional 200 shares during the period. Finally, Point72 DIFC Ltd boosted its stake in HCI Group by 75.0% during the third quarter. Point72 DIFC Ltd now owns 497 shares of the insurance provider’s stock valued at $53,000 after buying an additional 213 shares during the period. 86.99% of the stock is currently owned by institutional investors.

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.