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

HCI Group, Inc. (NYSE:HCI) announced 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 dividend on an annualized basis 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% meaning 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 Trading Down 0.9 %

HCI Group stock traded down $1.08 during mid-day trading on Friday, hitting $115.00. The company’s stock had a trading volume of 99,536 shares, compared to its average volume of 112,253. The stock’s fifty day moving average is $109.35 and its two-hundred day moving average is $90.95. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.15 billion, a PE ratio of 15.21 and a beta of 1.14. HCI Group has a 1 year low of $48.08 and a 1 year high of $121.57.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, March 7th. The insurance provider reported $3.22 EPS for the quarter, beating the consensus estimate of $1.41 by $1.81. The business had revenue of $162.67 million for 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, analysts anticipate that HCI Group will post 10.33 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Paresh Patel bought 1,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average price of $114.90 per share, with a total value of $114,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 349,000 shares in the company, valued at $40,100,100. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other HCI Group news, CEO Paresh Patel acquired 1,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was purchased at an average price of $114.90 per share, for a total transaction of $114,900.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, Director Sanjay Madhu sold 3,294 shares of the company’s 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 transaction, the director now directly owns 71,706 shares in the company, valued at $8,512,936.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,102 shares of company stock worth $13,198,303. 25.25% of the stock is owned by insiders.

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.