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

HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.40 per share by the insurance provider on Friday, December 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 15th.

HCI Group has a payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HCI Group to earn $12.86 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 12.4%.

HCI Group Stock Down 2.7 %

HCI stock opened at $112.53 on Thursday. HCI Group has a one year low of $77.00 and a one year high of $124.00. The firm has a market cap of $1.19 billion, a PE ratio of 9.40 and a beta of 1.12. The firm’s 50 day moving average price is $109.26 and its 200-day moving average price is $100.38. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.44 and a current ratio of 0.47.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Compass Point reaffirmed a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. Truist Financial upped their target price on shares of HCI Group from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $145.00 price target on shares of HCI Group in a research report on Tuesday, October 15th. StockNews.com downgraded shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Oppenheimer increased their price objective on shares of HCI Group from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

About HCI Group

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.