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

HCI Group, Inc. (NYSE:HCI) declared 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 1.29%. The ex-dividend date of this dividend is Friday, February 21st.

HCI Group has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities 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 1.1 %

NYSE:HCI opened at $123.64 on Thursday. 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 fifty-two week low of $83.64 and a fifty-two week high of $126.50. The stock’s 50-day moving average is $117.38 and its two-hundred day moving average is $108.55. The stock has a market cap of $1.30 billion, a PE ratio of 10.33 and a beta of 1.12.

HCI Group (NYSE:HCI) last announced its quarterly earnings results on Thursday, November 7th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.08. The business had revenue of $175.32 million during the quarter, compared to analyst estimates of $192.08 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities research analysts forecast that HCI Group will post 6.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HCI has been the subject of several analyst reports. Oppenheimer boosted 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. Truist Financial reaffirmed a “buy” rating and issued a $145.00 price target on shares of HCI Group in a research report on Tuesday, December 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $145.00 price target on shares of HCI Group in a research report on Tuesday, October 15th. Finally, Compass Point reaffirmed a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of HCI Group in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, 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.