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

HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.40 per share by the insurance provider on Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, February 21st.

HCI Group has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Analysts expect HCI Group to earn $13.50 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 11.9%.

HCI Group Trading Up 1.2 %

NYSE:HCI opened at $120.07 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.47 and a quick ratio of 0.47. HCI Group has a 1 year low of $83.64 and a 1 year high of $126.50. The company has a market cap of $1.27 billion, a P/E ratio of 10.03 and a beta of 1.12. The stock’s fifty day moving average price is $117.80 and its two-hundred day moving average price is $110.39.

Analysts Set New Price Targets

Several brokerages have commented on HCI. Truist Financial reissued a “buy” rating and issued a $145.00 price target on shares of HCI Group in a report on Tuesday, December 17th. Oppenheimer upped their price objective on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, HCI Group currently has an average rating of “Moderate Buy” and an average target price of $140.00.

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.