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

Key Points

• HCI Group declared a quarterly dividend of $0.40 per share, with the ex-dividend date and record date both set for August 21 and payment scheduled for September 18.
• The dividend implies an annualized payout of $1.60 per share and a 0.9% yield, with a payout ratio of 10.6%, suggesting the dividend is well covered by earnings.
• The company recently beat earnings estimates, reporting $5.45 EPS versus $5.26 expected, while analysts forecast it should continue generating enough profit to support future dividend payments.

HCI Group, Inc. (NYSE:HCI - Get Free Report) declared a quarterly dividend on Wednesday, July 8th. Investors of record on Friday, August 21st will be paid a dividend of 0.40 per share by the insurance provider on Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 21st.

HCI Group has a dividend payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HCI Group to earn $18.38 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 8.7%.

HCI Group Price Performance

HCI Group stock opened at $179.66 on Thursday. The company has a market cap of $2.29 billion, a P/E ratio of 7.89 and a beta of 1.03. HCI Group has a one year low of $136.37 and a one year high of $210.50. The business has a fifty day moving average of $162.03 and a two-hundred day moving average of $163.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.82.

HCI Group (NYSE:HCI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $5.45 EPS for the quarter, topping the consensus estimate of $5.26 by $0.19. HCI Group had a return on equity of 30.88% and a net margin of 32.64%.The business had revenue of $242.88 million for the quarter, compared to analyst estimates of $245.09 million. As a group, analysts predict that HCI Group will post 18.07 earnings per share for the current fiscal year.

Institutional Trading of HCI Group

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of HCI Group by 5.5% during the 1st quarter. Royal Bank of Canada now owns 14,023 shares of the insurance provider's stock valued at $2,093,000 after acquiring an additional 727 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 in the last quarter. Millennium Management LLC boosted its position in shares of HCI Group by 78.7% in 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. Russell Investments Group Ltd. grew its stake in shares of HCI Group by 115.9% in the second quarter. Russell Investments Group Ltd. now owns 1,399 shares of the insurance provider's stock valued at $213,000 after buying an additional 751 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of HCI Group by 557.6% in the second quarter. EverSource Wealth Advisors LLC now owns 217 shares of the insurance provider's stock valued at $33,000 after buying an additional 184 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

HCI Group Company Profile

HCI Group, Inc NYSE: HCI is a holding company whose principal business is the underwriting and issuance of property and casualty insurance through its insurance subsidiaries. Headquartered in Jacksonville, Florida, the company focuses primarily on personal-line insurance products, writing homeowners, condominium, renters and mobile home policies. HCI Group also offers wind-only and flood coverage in coastal regions across the state, providing tailored solutions to both coastal and non-coastal communities.

The company distributes its insurance products through a network of independent agents and brokers, leveraging local market expertise to assess risk and deliver personalized service.

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