HCI Group, Inc. (NYSE:HCI) Sees Large Increase in Short Interest

HCI Group, Inc. (NYSE:HCI) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,080,000 shares, an increase of 8.0% from the November 30th total of 1,000,000 shares. Currently, 13.1% of the company’s shares are short sold. Based on an average trading volume of 163,300 shares, the short-interest ratio is currently 6.6 days.

Wall Street Analysts Forecast Growth

HCI has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a research note on Tuesday, October 15th. Compass Point reiterated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Truist Financial reiterated a “buy” rating and issued a $145.00 price objective on shares of HCI Group in a report on Tuesday, December 17th. Finally, Oppenheimer raised their price objective on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

HCI Group Trading Up 1.2 %

Shares of HCI traded up $1.39 on Wednesday, hitting $116.53. 128,673 shares of the stock traded hands, compared to its average volume of 144,832. The firm has a market capitalization of $1.23 billion, a P/E ratio of 9.74 and a beta of 1.11. 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 has a 1 year low of $81.35 and a 1 year high of $126.50. The stock’s 50 day moving average is $114.96 and its two-hundred day moving average is $103.51.

HCI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 15th were given a $0.40 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. HCI Group’s payout ratio is currently 13.37%.

Institutional Trading of HCI Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Khrom Capital Management LLC boosted its holdings in HCI Group by 225.3% in 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 last quarter. Two Sigma Advisers LP boosted its stake in shares of 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. grew its position in shares of HCI Group by 130.5% during the second quarter. American Century Companies Inc. now owns 110,271 shares of the insurance provider’s stock worth $10,164,000 after buying an additional 62,438 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of HCI Group by 58.3% in the third quarter. Wellington Management Group LLP now owns 146,738 shares of the insurance provider’s stock worth $15,710,000 after buying an additional 54,050 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in HCI Group by 1,648.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 56,996 shares of the insurance provider’s stock valued at $6,102,000 after acquiring an additional 53,737 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

About HCI Group

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.