Allspring Global Investments Holdings LLC Sells 17,993 Shares of HCI Group, Inc. (NYSE:HCI)

Allspring Global Investments Holdings LLC lowered its stake in HCI Group, Inc. (NYSE:HCI) by 17.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,923 shares of the insurance provider’s stock after selling 17,993 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.79% of HCI Group worth $12,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of HCI Group by 16.6% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider’s stock valued at $89,000 after buying an additional 85 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of HCI Group in the fourth quarter valued at approximately $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in HCI Group during the fourth quarter worth approximately $211,000. CCG Wealth Management LLC purchased a new stake in HCI Group during the first quarter worth approximately $246,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of HCI Group in the fourth quarter valued at $255,000. Institutional investors own 86.99% of the company’s stock.

HCI Group Price Performance

Shares of HCI opened at $146.76 on Friday. The business has a 50-day moving average of $156.38 and a 200-day moving average of $137.92. HCI Group, Inc. has a 1 year low of $83.65 and a 1 year high of $176.40. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.56 and a quick ratio of 0.56.

HCI Group (NYSE:HCI) last announced its earnings results on Thursday, May 8th. The insurance provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.86. HCI Group had a return on equity of 27.69% and a net margin of 17.38%. The company had revenue of $216.43 million for the quarter, compared to analysts’ expectations of $214.89 million. As a group, equities research analysts anticipate that HCI Group, Inc. will post 6.78 earnings per share for the current year.

HCI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. HCI Group’s payout ratio is presently 15.47%.

Analyst Upgrades and Downgrades

HCI has been the subject of several recent analyst reports. Compass Point upgraded shares of HCI Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $148.00 to $205.00 in a report on Friday, May 30th. JMP Securities boosted their price objective on HCI Group from $210.00 to $225.00 and gave the stock a “market outperform” rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.25.

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.