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

HCI Group, Inc. (NYSE:HCI) declared a quarterly dividend on Wednesday, October 21st. Shareholders of record on Friday, November 20th will be given a dividend of $0.40 per share by the insurance provider on Friday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 20th.

HCI Group has a dividend payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HCI Group to earn $19.63 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 8.2%.

HCI Group Trading Up 1.1%

NYSE HCI traded up $2.29 on Thursday, hitting $206.71. The company’s stock had a trading volume of 21,688 shares, compared to its average volume of 168,301. HCI Group has a 52-week low of $144.75 and a 52-week high of $210.50. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $186.82 and its 200 day simple moving average is $172.97. The firm has a market cap of $2.57 billion, a P/E ratio of 8.91 and a beta of 1.05.

HCI Group (NYSE:HCI) last posted its earnings results on Thursday, August 6th. The insurance provider reported $5.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.56. The firm had revenue of $246.65 million for the quarter, compared to analysts’ expectations of $247.43 million. HCI Group had a return on equity of 28.80% and a net margin of 32.60%. Research analysts predict that HCI Group will post 21.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HCI. Zacks Research raised shares of HCI Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Truist Financial set a $235.00 target price on shares of HCI Group in a research report on Thursday, October 1st. Citigroup reaffirmed a “market outperform” rating on shares of HCI Group in a research note on Friday, August 7th. Cantor Fitzgerald assumed coverage on shares of HCI Group in a research report on Thursday, July 9th. They set an “overweight” rating and a $225.00 price target on the stock. Finally, Weiss Ratings downgraded shares of HCI Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $241.67.

About HCI Group

HCI Group, Inc is a Florida-based holding company focused primarily on property and casualty insurance. Through its insurance subsidiaries, the company provides residential property insurance products, including homeowners, condominium, renters and dwelling coverage, designed to protect policyholders against risks such as wind, fire, theft and other covered losses.

HCI’s insurance operations have historically been concentrated in Florida, one of the largest and most challenging residential property-insurance markets in the United States.