HCI Group, Inc. (HCI) to Issue Quarterly Dividend of $0.40 on March 21st

HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, February 21st.

HCI Group has a dividend payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of HCI opened at $123.64 on Thursday. The business’s fifty day moving average price is $117.38 and its 200 day moving average price is $108.55. HCI Group has a 12-month low of $83.64 and a 12-month high of $126.50. The stock has a market capitalization of $1.30 billion, a PE ratio of 10.33 and a beta of 1.12. 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 (NYSE:HCI) last posted its earnings results on Thursday, November 7th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. The company had revenue of $175.32 million for the quarter, compared to analysts’ expectations of $192.08 million. During the same period last year, the business posted $1.41 earnings per share. Equities research analysts forecast that HCI Group will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HCI shares. Truist Financial restated a “buy” rating and set a $145.00 price objective on shares of HCI Group in a research note on Tuesday, December 17th. Oppenheimer lifted their target price on HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Finally, Compass Point reaffirmed a “neutral” rating and set a $120.00 target price (up from $119.00) on shares of HCI Group in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.