HCI Group (NYSE:HCI) Sets New 1-Year High After Dividend Announcement

Key Points

• HCI Group's shares reached a new 52-week high following the announcement of a quarterly dividend of $0.40, which will be paid on December 19th to investors on record as of November 21st.
• Analysts have recently rated HCI Group with a mix of upgrades and downgrades, resulting in an average rating of "Buy" and an average price target of $181.25.
• The company's recent quarterly earnings exceeded expectations, reporting $5.18 earnings per share, along with a net margin of 18.58% and a return on equity of 25.84%.

Shares of HCI Group, Inc. (NYSE:HCI - Get Free Report) hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as $207.72 and last traded at $199.18, with a volume of 14669 shares trading hands. The stock had previously closed at $200.98.The newly announced dividend which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. HCI Group's dividend payout ratio (DPR) is currently 14.18%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research raised shares of HCI Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of HCI Group in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of HCI Group from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $181.25.

HCI Group Stock Down 1.7%

The business's fifty day simple moving average is $179.28 and its 200 day simple moving average 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. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 17.36 and a beta of 1.17.

HCI Group (NYSE:HCI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The insurance provider reported $5.18 earnings per share for the quarter, topping analysts' consensus estimates of $4.47 by $0.71. The company had revenue of $221.92 million for the quarter, compared to analysts' expectations of $218.98 million. HCI Group had a net margin of 18.58% and a return on equity of 25.84%. Equities analysts forecast that HCI Group, Inc. will post 6.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HCI Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HCI. GAMMA Investing LLC boosted 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 purchasing an additional 85 shares in the last quarter. Principal Financial Group Inc. boosted 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 purchasing an additional 1,332 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of HCI Group by 22.2% during the first quarter. Envestnet Asset Management Inc. now owns 8,886 shares of the insurance provider's stock worth $1,326,000 after purchasing an additional 1,612 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of HCI Group during the first quarter worth $1,432,000. Finally, Cerity Partners LLC bought a new stake in HCI Group in the 1st quarter valued at $274,000. 86.99% of the stock is owned by institutional investors.

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.

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