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

Key Points

• HCI Group, Inc. has declared a quarterly dividend of $0.40 per share, set to be paid on December 19th to stockholders on record as of November 21st, reflecting a dividend yield of 0.8%.
• The company reported earnings of $5.18 per share for the last quarter, surpassing analyst estimates of $4.47, contributing to an annual earnings forecast of $13.50 per share for the upcoming year.
• HCI Group has a dividend payout ratio of 10.6%, indicating robust earnings coverage for its upcoming dividend payments, with institutional investors holding 86.99% of the stock.

HCI Group, Inc. (NYSE:HCI - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Friday, November 21st will be given a dividend of 0.40 per share by the insurance provider on Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 21st.

HCI Group has a dividend payout ratio of 10.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 2.1%

Shares of HCI opened at $200.97 on Thursday. The firm has a market cap of $2.60 billion, a P/E ratio of 17.82 and a beta of 1.17. HCI Group has a 12-month low of $105.00 and a 12-month high of $201.91. The company's 50-day moving average price is $179.28 and its 200 day moving average price is $160.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02.

HCI Group (NYSE:HCI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The insurance provider reported $5.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.71. The firm had revenue of $221.92 million for the quarter, compared to analyst estimates of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. On average, sell-side analysts forecast that HCI Group will post 6.78 earnings per share for the current year.

Hedge Funds Weigh In On HCI Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Simplex Trading LLC acquired a new position in shares of HCI Group during the first quarter worth about $148,000. GAMMA Investing LLC grew its position in shares of HCI Group by 16.6% during the first quarter. GAMMA Investing LLC now owns 596 shares of the insurance provider's stock worth $89,000 after buying an additional 85 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of HCI Group by 2.2% during the first quarter. Principal Financial Group Inc. now owns 61,664 shares of the insurance provider's stock worth $9,202,000 after buying an additional 1,332 shares in the last quarter. Amundi grew its position in shares of HCI Group by 8,320.5% during the first quarter. Amundi now owns 25,514 shares of the insurance provider's stock worth $3,783,000 after buying an additional 25,211 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of HCI Group by 6.7% during the first quarter. Victory Capital Management Inc. now owns 22,897 shares of the insurance provider's stock worth $3,417,000 after buying an additional 1,443 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.