HCI Group, Inc. (HCI) to Issue Quarterly Dividend of $0.40 on June 21st

HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.9 %

Shares of NYSE HCI traded down $1.08 during midday trading on Friday, reaching $115.00. The company had a trading volume of 99,536 shares, compared to its average volume of 112,253. HCI Group has a one year low of $48.08 and a one year high of $121.57. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average price is $109.35 and its 200-day moving average price is $90.95. The stock has a market cap of $1.15 billion, a PE ratio of 15.21 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HCI shares. Compass Point upped 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 HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. Truist Financial upped their target price on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Oppenheimer restated an “outperform” rating and issued a $140.00 price target on shares of HCI Group in a research note on Friday, April 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of HCI Group in a research note on Monday, April 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, HCI Group currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Insider Activity

In other news, CEO Paresh Patel bought 1,000 shares of HCI Group stock in a transaction dated Tuesday, April 9th. The shares were purchased at an average cost of $114.90 per share, with a total value of $114,900.00. Following the completion of the acquisition, the chief executive officer now owns 349,000 shares of the company’s stock, valued at approximately $40,100,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other HCI Group news, General Counsel Andrew L. Graham sold 800 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 57,630 shares of the company’s stock, valued at $6,709,284.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paresh Patel acquired 1,000 shares of HCI Group stock in a transaction on Tuesday, April 9th. The shares were bought at an average cost of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the purchase, the chief executive officer now directly owns 349,000 shares of the company’s stock, valued at $40,100,100. The disclosure for this purchase can be found here. Insiders have sold 113,102 shares of company stock worth $13,198,303 over the last ninety days. Corporate insiders own 25.25% of the company’s stock.

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.