HCI Group Inc (NYSE:HCI) declared a quarterly dividend on Monday, July 8th, Zacks reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.40 per share by the insurance provider on Friday, September 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, August 15th.
HCI Group has raised its dividend payment by an average of 7.1% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. HCI Group has a payout ratio of 40.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HCI Group to earn $4.40 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 36.4%.
Shares of NYSE:HCI traded up $0.35 during midday trading on Wednesday, reaching $41.38. 261 shares of the company’s stock traded hands, compared to its average volume of 61,892. The company has a market capitalization of $355.75 million, a P/E ratio of 12.81 and a beta of 0.77. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. HCI Group has a one year low of $36.72 and a one year high of $59.32. The stock’s 50 day moving average price is $41.19.
In other news, Director Gregory Politis acquired 4,000 shares of HCI Group stock in a transaction that occurred on Friday, April 12th. The stock was bought at an average price of $40.91 per share, for a total transaction of $163,640.00. Following the completion of the transaction, the director now owns 206,000 shares in the company, valued at $8,427,460. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Loreen M. Spencer acquired 950 shares of HCI Group stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average price of $41.13 per share, with a total value of $39,073.50. Following the transaction, the director now owns 950 shares of the company’s stock, valued at approximately $39,073.50. The disclosure for this purchase can be found here. 22.31% of the stock is currently owned by corporate insiders.
HCI has been the subject of a number of research reports. Zacks Investment Research cut HCI Group from a “hold” rating to a “strong sell” rating in a research report on Friday, April 26th. ValuEngine upgraded HCI Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, TheStreet upgraded HCI Group from a “c+” rating to a “b-” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.33.
About HCI Group
HCI Group, Inc engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.
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