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

HCI Group, Inc. (NYSE:HCI - Get Free Report) declared a quarterly dividend on Wednesday, July 2nd, RTT News reports. Investors of record on Friday, August 15th will be paid a dividend of 0.40 per share by the insurance provider on Friday, September 19th. This represents a $1.60 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, August 15th.

HCI Group has a payout ratio of 10.6% 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 Price Performance

NYSE:HCI traded up $1.33 during mid-day trading on Friday, hitting $146.76. 69,150 shares of the company's stock traded hands, compared to its average volume of 140,583. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $1.70 billion, a PE ratio of 14.19 and a beta of 1.21. The firm's 50 day simple moving average is $156.46 and its 200 day simple moving average is $138.16. HCI Group has a 1 year low of $83.65 and a 1 year high of $176.40.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The insurance provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.86. HCI Group had a net margin of 17.38% and a return on equity of 27.69%. The business had revenue of $216.43 million during the quarter, compared to analysts' expectations of $214.89 million. Sell-side analysts expect that HCI Group will post 6.78 EPS for the current year.

Institutional Trading of HCI Group

Several hedge funds and other institutional investors have recently bought and sold shares of HCI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of HCI Group by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,930 shares of the insurance provider's stock worth $736,000 after purchasing an additional 228 shares during the last quarter. Royal Bank of Canada increased its stake in HCI Group by 5.5% in the first quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider's stock valued at $2,093,000 after purchasing an additional 727 shares during the last quarter. Finally, Millennium Management LLC lifted its position in HCI Group by 78.7% during the first quarter. Millennium Management LLC now owns 102,377 shares of the insurance provider's stock worth $15,278,000 after buying an additional 45,097 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JMP Securities boosted their price target on HCI Group from $210.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, May 19th. Compass Point upgraded HCI Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $148.00 to $205.00 in a research report on Friday, May 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, HCI Group has an average rating of "Moderate Buy" and a consensus target price of $181.25.

HCI Group Company Profile

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.