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

HCI Group, Inc. (NYSE:HCI) declared 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of HCI Group stock traded down $1.08 on Friday, reaching $115.00. 99,536 shares of the stock were exchanged, compared to its average volume of 112,253. HCI Group has a 1-year low of $48.08 and a 1-year high of $121.57. 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 business has a fifty day moving average price of $109.35 and a two-hundred day moving average price of $90.95. The firm has a market capitalization of $1.15 billion, a PE ratio of 15.21 and a beta of 1.14.

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

Wall Street Analysts Forecast Growth

HCI has been the topic of a number of recent analyst reports. Compass Point boosted their price target on shares of HCI Group from $90.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Oppenheimer reissued an “outperform” rating and set a $140.00 price objective on shares of HCI Group in a report on Friday, April 5th. Truist Financial boosted their price objective on shares of HCI Group from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 12th. JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of HCI Group in a report on Monday, April 15th. Finally, William Blair raised shares of HCI Group from a “market perform” rating to an “outperform” rating in a report on Friday, March 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, HCI Group presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Insider Activity at HCI Group

In other news, CEO Paresh Patel acquired 1,000 shares of HCI Group stock in a transaction that occurred on 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 purchase, 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 filing with the SEC, which can be accessed through this link. In other news, CEO Paresh Patel acquired 1,000 shares of HCI Group stock in a transaction that occurred on 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 purchase, 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 filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew L. Graham sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $116.42, for a total transaction of $93,136.00. Following the transaction, the general counsel now directly owns 57,630 shares in the company, valued at approximately $6,709,284.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,102 shares of company stock valued at $13,198,303. Company insiders own 25.25% of the company’s stock.

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.