HCI Group, Inc. (HCI) To Go Ex-Dividend on August 16th

HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Monday, July 8th, Zacks reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.40 per share by the insurance provider on Friday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, August 16th.

HCI Group has a payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect HCI Group to earn $12.18 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 13.1%.

HCI Group Price Performance

HCI stock opened at $84.80 on Wednesday. The company has a fifty day moving average price of $98.23 and a 200-day moving average price of $99.90. The company has a market capitalization of $888.70 million, a P/E ratio of 8.63 and a beta of 1.13. HCI Group has a 52-week low of $48.84 and a 52-week high of $121.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 0.61.

HCI Group (NYSE:HCI) last released its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.91. The firm had revenue of $206.61 million during the quarter, compared to the consensus estimate of $189.17 million. HCI Group had a net margin of 17.72% and a return on equity of 40.30%. As a group, equities analysts expect that HCI Group will post 11.68 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on HCI. StockNews.com raised shares of HCI Group from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Oppenheimer reissued an “outperform” rating and set a $140.00 target price on shares of HCI Group in a research note on Friday, April 5th. JMP Securities lifted their target price on shares of HCI Group from $120.00 to $135.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 9th. Finally, Compass Point lifted their target price on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, HCI Group has a consensus rating of “Buy” and an average target price of $127.75.

Insider Activity

In other HCI Group news, CEO Paresh Patel acquired 500 shares of HCI Group stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of $111.00 per share, for a total transaction of $55,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 349,500 shares of the company’s stock, valued at $38,794,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.25% of the company’s stock.

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.