HCI Group, Inc. (NYSE:HCI) to Issue $0.40 Quarterly Dividend

HCI Group, Inc. (NYSE:HCI) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.40 per share by the insurance provider on Friday, June 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, May 16th.

HCI Group has a dividend payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect HCI Group to earn $11.68 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 13.7%.

HCI Group Stock Performance

Shares of HCI traded down $1.08 during mid-day trading on Friday, hitting $115.00. 99,536 shares of the company’s stock were exchanged, compared to its average volume of 112,253. HCI Group has a 52 week low of $48.08 and a 52 week high of $121.57. The stock’s 50-day simple moving average is $109.35 and its 200-day simple moving average is $90.95. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 15.21 and a beta of 1.14. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, March 7th. The insurance provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $1.81. The business had revenue of $162.67 million for the quarter, compared to analysts’ expectations of $146.09 million. HCI Group had a net margin of 14.35% and a return on equity of 36.40%. During the same period last year, the firm posted $0.06 earnings per share. On average, equities research analysts expect that HCI Group will post 10.33 EPS for the current year.

Insider Buying and Selling at HCI Group

In other HCI Group news, General Counsel Andrew L. Graham sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total value of $93,136.00. Following the sale, the general counsel now owns 57,630 shares in the company, valued at $6,709,284.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Anthony Saravanos sold 12,967 shares of HCI Group stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $117.01, for a total transaction of $1,517,268.67. Following the transaction, the insider now owns 67,033 shares in the company, valued at $7,843,531.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew L. Graham sold 800 shares of HCI Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now owns 57,630 shares in the company, valued at approximately $6,709,284.60. The disclosure for this sale can be found here. Insiders have sold 113,102 shares of company stock worth $13,198,303 over the last quarter. Corporate insiders own 25.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a research note on Friday, April 5th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of HCI Group in a research note on Monday, April 15th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Truist Financial raised their target price on shares of HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Compass Point raised their target price on shares of HCI Group from $90.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, HCI Group currently has an average rating of “Moderate Buy” and an average price target of $124.00.

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.