HCI Group Inc (NYSE:HCI) announced a quarterly dividend on Thursday, April 20th. Investors of record on Friday, May 19th will be given a dividend of 0.35 per share by the insurance provider on Friday, June 16th. This represents a $1.40 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, May 17th.
HCI Group has decreased its dividend by an average of 1.8% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. HCI Group has a dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HCI Group to earn $4.14 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 33.8%.
Shares of HCI Group (NYSE:HCI) opened at 44.01 on Friday. HCI Group has a 12-month low of $24.35 and a 12-month high of $50.93. The firm has a market cap of $434.11 million, a PE ratio of 12.78 and a beta of 2.26. The company has a 50 day moving average price of $45.54 and a 200 day moving average price of $41.24.
HCI Group (NYSE:HCI) last issued its earnings results on Tuesday, February 21st. The insurance provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.64. The firm had revenue of $72.37 million during the quarter, compared to analysts’ expectations of $63.31 million. HCI Group had a net margin of 13.90% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. On average, analysts forecast that HCI Group will post $3.78 earnings per share for the current fiscal year.
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A number of equities analysts recently commented on HCI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of HCI Group in a research note on Monday, May 15th. TheStreet raised shares of HCI Group from a “c” rating to a “b-” rating in a research note on Thursday, May 4th. Finally, SunTrust Banks, Inc. started coverage on shares of HCI Group in a research note on Friday, April 7th. They issued a “buy” rating and a $52.00 price objective for the company.
A hedge fund recently raised its stake in HCI Group stock. Vanguard Group Inc. increased its position in shares of HCI Group Inc (NYSE:HCI) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,378 shares of the insurance provider’s stock after buying an additional 33,914 shares during the period. Vanguard Group Inc. owned 5.34% of HCI Group worth $25,040,000 as of its most recent filing with the SEC. Institutional investors own 66.66% of the company’s stock.
About HCI Group
HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.
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