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

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 paid a dividend of 0.40 per share by the insurance provider on Friday, March 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.31%.

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

NYSE HCI traded up $0.21 during trading on Wednesday, hitting $122.55. The company’s stock had a trading volume of 2,908 shares, compared to its average volume of 109,622. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $117.38 and a 200 day moving average price of $108.55. The firm has a market cap of $1.29 billion, a P/E ratio of 10.25 and a beta of 1.12. HCI Group has a 52 week low of $83.64 and a 52 week high of $126.50.

HCI Group (NYSE:HCI) last posted its quarterly earnings data on Thursday, November 7th. The insurance provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The company had revenue of $175.32 million for 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 quarter in the previous year, the firm earned $1.41 earnings per share. Equities research analysts forecast that HCI Group will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer increased their price target 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 restated a “market outperform” rating and issued a $145.00 price objective on shares of HCI Group in a research note on Tuesday, October 15th. 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. Finally, Compass Point reissued a “neutral” rating and set a $120.00 price objective (up previously 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 given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.