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

HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, May 16th.

HCI Group has a 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 Down 0.9 %

HCI traded down $1.08 during trading on Friday, reaching $115.00. 99,536 shares of the stock traded hands, compared to its average volume of 112,253. HCI Group has a fifty-two week low of $48.08 and a fifty-two week high of $121.57. The stock’s 50-day simple moving average is $109.35 and its two-hundred day simple moving average is $90.95. The stock 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 debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62.

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

Insider Activity at HCI Group

In related news, CFO James Mark Harmsworth sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $117.12, for a total transaction of $2,342,400.00. Following the transaction, the chief financial officer now directly owns 15,420 shares in the company, valued at $1,805,990.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HCI Group news, General Counsel Andrew L. Graham sold 800 shares of HCI Group 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Mark Harmsworth sold 20,000 shares of HCI Group stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $117.12, for a total value of $2,342,400.00. Following the sale, the chief financial officer now directly owns 15,420 shares in the company, valued at $1,805,990.40. 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 three months. Company insiders own 25.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HCI. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price target on shares of HCI Group in a research report on Monday, April 15th. Truist Financial lifted their price objective on HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of HCI Group in a research note on Friday, April 5th. Compass Point lifted their price objective on HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, William Blair upgraded HCI Group from a “market perform” rating to an “outperform” rating in a research note on Friday, March 8th. One investment 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, HCI Group currently has an average rating of “Moderate Buy” and an average price target of $124.00.

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.