HCI Group (NYSE:HCI) declared a quarterly dividend on Tuesday, April 17th, Zacks reports. Shareholders of record on Friday, May 18th will be paid a dividend of 0.375 per share by the insurance provider on Friday, June 15th. This represents a $1.50 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, May 17th. This is a boost from HCI Group’s previous quarterly dividend of $0.35.

HCI Group has increased its dividend by an average of 8.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. HCI Group has a payout ratio of -350.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect HCI Group to earn $4.15 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 33.7%.

Shares of HCI Group opened at $42.52 on Wednesday, MarketBeat reports. The firm has a market cap of $390.45 million, a price-to-earnings ratio of -56.69 and a beta of 1.88. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. HCI Group has a 1-year low of $41.61 and a 1-year high of $42.83.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Tuesday, March 6th. The insurance provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.32. The company had revenue of $61.62 million during the quarter, compared to analyst estimates of $62.98 million. HCI Group had a negative net margin of 3.46% and a negative return on equity of 3.02%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. equities analysts forecast that HCI Group will post 3.95 earnings per share for the current fiscal year.

HCI has been the subject of several research reports. Zacks Investment Research lowered shares of HCI Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. TheStreet raised shares of HCI Group from a “c” rating to a “b-” rating in a report on Tuesday, March 6th. Finally, ValuEngine raised shares of HCI Group from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. HCI Group presently has a consensus rating of “Buy” and an average price target of $46.33.

About HCI Group

HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.

Dividend History for HCI Group (NYSE:HCI)

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