HCC Insurance Holdings Sets New 12-Month High Following Dividend Announcement (HCC)
HCC Insurance Holdings (NYSE:HCC)’s share price reached a new 52-week high during trading on Thursday after the company announced a dividend, American Banking News reports. The company traded as high as $49.64 and last traded at $49.50, with a volume of 122,303 shares trading hands. The stock had previously closed at $49.02.
The newly announced dividend is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.41%.
Several analysts have recently commented on the stock. Analysts at Compass Point raised their price target on shares of HCC Insurance Holdings from $45.00 to $49.00 in a research note on Friday, August 1st. They now have a “neutral” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of HCC Insurance Holdings from $53.00 to $54.00 in a research note on Thursday, July 31st. Finally, analysts at JMP Securities reiterated a “market outperform” rating on shares of HCC Insurance Holdings in a research note on Monday, July 21st. They now have a $54.00 price target on the stock, up previously from $50.00.
The stock’s 50-day moving average is $48.14 and its 200-day moving average is $46.26. The company has a market cap of $4.875 billion and a price-to-earnings ratio of 11.78.
HCC Insurance Holdings (NYSE:HCC) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.07. Analysts expect that HCC Insurance Holdings will post $3.82 EPS for the current fiscal year.
HCC Insurance Holdings, Inc (NYSE:HCC) is a specialty insurer with offices in the United States, the United Kingdom, Spain and Ireland.
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