HCI Group Inc (NYSE:HCI) announced a quarterly dividend on Wednesday, October 24th, Wall Street Journal reports. Stockholders of record on Friday, November 16th will be paid a dividend of 0.375 per share by the insurance provider on Friday, December 21st. This represents a $1.50 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, November 15th.
HCI Group has raised its dividend payment by an average of 8.4% per year over the last three years and has increased its dividend every year for the last 4 years. HCI Group has a payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HCI Group to earn $4.50 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 33.3%.
Shares of HCI Group stock traded up $1.03 during trading on Thursday, reaching $54.42. The company’s stock had a trading volume of 98,800 shares, compared to its average volume of 79,961. The stock has a market capitalization of $489.89 million, a price-to-earnings ratio of -72.63 and a beta of 1.37. HCI Group has a fifty-two week low of $28.76 and a fifty-two week high of $59.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.80 and a quick ratio of 0.80.
HCI Group (NYSE:HCI) last announced its earnings results on Tuesday, November 6th. The insurance provider reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.41. The business had revenue of $61.74 million for the quarter, compared to analysts’ expectations of $59.26 million. HCI Group had a net margin of 15.96% and a return on equity of 21.65%. Analysts anticipate that HCI Group will post 3.5 earnings per share for the current year.
In other news, CEO Paresh Patel bought 1,000 shares of HCI Group stock in a transaction on Monday, November 26th. The shares were bought at an average cost of $52.91 per share, for a total transaction of $52,910.00. Following the acquisition, the chief executive officer now owns 85,000 shares in the company, valued at $4,497,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.31% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on HCI shares. TheStreet raised shares of HCI Group from a “c” rating to a “b-” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised shares of HCI Group from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Thursday, August 9th. Finally, JMP Securities boosted their price objective on shares of HCI Group from $48.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 10th.
HCI Group Company Profile
HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.
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