20,100 Shares in HCI Group, Inc. $HCI Bought by Alden Global Capital LLC

Alden Global Capital LLC purchased a new position in HCI Group, Inc. (NYSE:HCI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,100 shares of the insurance provider’s stock, valued at approximately $3,059,000. HCI Group comprises about 1.9% of Alden Global Capital LLC’s investment portfolio, making the stock its 15th largest position.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of HCI Group by 15.2% in the second quarter. American Century Companies Inc. now owns 521,641 shares of the insurance provider’s stock worth $79,394,000 after buying an additional 68,860 shares during the period. Geode Capital Management LLC grew its position in HCI Group by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 241,881 shares of the insurance provider’s stock worth $36,819,000 after acquiring an additional 14,583 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in HCI Group by 24.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 180,420 shares of the insurance provider’s stock worth $27,460,000 after purchasing an additional 35,798 shares during the period. Wellington Management Group LLP lifted its position in HCI Group by 13.3% in the first quarter. Wellington Management Group LLP now owns 175,376 shares of the insurance provider’s stock valued at $26,171,000 after purchasing an additional 20,537 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of HCI Group by 107.3% during the second quarter. Marshall Wace LLP now owns 158,224 shares of the insurance provider’s stock valued at $24,082,000 after purchasing an additional 81,884 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HCI shares. Wall Street Zen raised shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Truist Financial raised 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. Weiss Ratings restated a “buy (b)” rating on shares of HCI Group in a research report on Monday. Oppenheimer lowered shares of HCI Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 13th. Finally, Zacks Research raised HCI Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $230.00.

HCI Group Stock Performance

HCI Group stock opened at $186.72 on Friday. HCI Group, Inc. has a fifty-two week low of $106.89 and a fifty-two week high of $210.50. The stock’s 50 day simple moving average is $187.29 and its two-hundred day simple moving average is $168.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 11.92 and a beta of 1.20.

HCI Group (NYSE:HCI) last released its earnings results on Thursday, November 6th. The insurance provider reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $2.46. HCI Group had a return on equity of 31.18% and a net margin of 24.97%.The company had revenue of $216.35 million during the quarter, compared to analysts’ expectations of $223.53 million. As a group, analysts expect that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.9%. HCI Group’s dividend payout ratio (DPR) is currently 10.22%.

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.