HCI Group Inc (NYSE:HCI) declared a quarterly dividend on Thursday, July 9th, Wall Street Journal reports. Stockholders of record on Friday, August 21st will be given a dividend of 0.40 per share by the insurance provider on Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, August 20th.
HCI Group has a payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect HCI Group to earn $3.85 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 41.6%.
Shares of HCI opened at $44.33 on Friday. HCI Group has a fifty-two week low of $31.61 and a fifty-two week high of $49.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day moving average is $45.41 and its 200 day moving average is $43.57. The stock has a market capitalization of $349.20 million, a PE ratio of 17.59 and a beta of 0.65.
HCI Group (NYSE:HCI) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.27). HCI Group had a net margin of 8.45% and a return on equity of 11.86%. The company had revenue of $55.38 million for the quarter, compared to analysts’ expectations of $65.02 million. As a group, research analysts forecast that HCI Group will post 3.1 earnings per share for the current year.
A number of analysts have recently issued reports on HCI shares. Zacks Investment Research raised shares of HCI Group from a “sell” rating to a “hold” rating in a research note on Wednesday. JMP Securities boosted their price objective on shares of HCI Group from $50.00 to $55.00 in a research report on Tuesday, June 2nd. Finally, ValuEngine lowered shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.
About HCI Group
HCI Group, Inc engages in the property and casualty insurance, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners insurance, flood insurance, and wind-only insurance to homeowners, condominium owners, and tenants, as well as offers reinsurance programs.
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