HCI Group, Inc. Announces Quarterly Dividend of $0.40 (NYSE:HCI)

HCI Group, Inc. (NYSE:HCI) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 17th will be given 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 of this dividend is Thursday, May 16th.

HCI Group has a dividend payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

HCI stock traded down $1.08 during trading on Friday, hitting $115.00. The company had a trading volume of 99,536 shares, compared to its average volume of 112,253. The business has a 50 day moving average of $109.35 and a 200 day moving average of $90.95. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 15.21 and a beta of 1.14. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. HCI Group has a fifty-two week low of $48.08 and a fifty-two week high of $121.57.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $1.81. The company had revenue of $162.67 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.06 EPS. As a group, research analysts predict that HCI Group will post 10.33 earnings per share for the current year.

Insider Transactions at HCI Group

In other news, General Counsel Andrew L. Graham sold 800 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $116.42, for a total value of $93,136.00. Following the completion of the sale, the general counsel now owns 57,630 shares in the company, valued at $6,709,284.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sanjay Madhu sold 3,294 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $118.72, for a total transaction of $391,063.68. Following the completion of the sale, the director now directly owns 71,706 shares in the company, valued at $8,512,936.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew L. Graham sold 800 shares of HCI Group stock in a transaction 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 directly owns 57,630 shares of the company’s stock, 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 valued at $13,198,303 over the last three months. Company insiders own 25.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HCI. JMP Securities restated a “market outperform” rating and issued a $120.00 target price on shares of HCI Group in a research report on Monday, April 15th. Truist Financial upped their price objective on HCI Group from $96.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 12th. Compass Point lifted their target price on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. William Blair upgraded shares of HCI Group from a “market perform” rating to an “outperform” rating in a research report on Friday, March 8th. Finally, Oppenheimer restated an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a research report on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.