HCI Group Inc (NYSE:HCI) announced a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Stockholders of record on Friday, February 16th will be paid a dividend of 0.35 per share by the insurance provider on Friday, March 16th. This represents a $1.40 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, February 15th.

HCI Group has increased its dividend payment by an average of 8.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. HCI Group has a dividend payout ratio of -350.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect HCI Group to earn $3.73 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 37.5%.

Shares of HCI Group (HCI) opened at $34.85 on Friday. HCI Group has a twelve month low of $27.11 and a twelve month high of $50.93. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.22.

HCI Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, CEO Paresh Patel bought 1,000 shares of HCI Group stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $30.30 per share, for a total transaction of $30,300.00. Following the purchase, the chief executive officer now directly owns 74,000 shares of the company’s stock, valued at approximately $2,242,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Politis bought 4,000 shares of HCI Group stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $29.62 per share, with a total value of $118,480.00. Following the purchase, the director now directly owns 194,000 shares in the company, valued at $5,746,280. The disclosure for this purchase can be found here. Insiders purchased a total of 13,000 shares of company stock valued at $391,360 in the last 90 days. 20.37% of the stock is currently owned by company insiders.

Several analysts have recently commented on HCI shares. Zacks Investment Research upgraded HCI Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine lowered HCI Group from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.50.

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HCI Group Company Profile

HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.

Dividend History for HCI Group (NYSE:HCI)

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