HCI Group Inc to Issue Quarterly Dividend of $0.35 (NYSE:HCI)
HCI Group Inc (NYSE:HCI) announced a quarterly dividend on Monday, July 10th, Wall Street Journal reports. Stockholders of record on Friday, August 18th will be paid a dividend of 0.35 per share by the insurance provider on Friday, September 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Wednesday, August 16th.
HCI Group has decreased its dividend by an average of 1.8% annually over the last three years and has increased its dividend every year for the last 3 years. HCI Group has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HCI Group to earn $4.12 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 34.0%.
Shares of HCI Group (HCI) traded down 1.92% during mid-day trading on Monday, hitting $46.06. 82,656 shares of the stock were exchanged. The stock’s 50-day moving average is $45.55 and its 200-day moving average is $44.12. The stock has a market capitalization of $454.34 million, a price-to-earnings ratio of 13.37 and a beta of 2.37. HCI Group has a 52 week low of $24.35 and a 52 week high of $50.93.
Several equities research analysts have issued reports on HCI shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $38.00 target price on shares of HCI Group in a research report on Monday, March 27th. SunTrust Banks, Inc. started coverage on shares of HCI Group in a research report on Friday, April 7th. They set a “buy” rating and a $52.00 target price for the company. TheStreet upgraded shares of HCI Group from a “c” rating to a “b-” rating in a research report on Thursday, May 4th. ValuEngine upgraded shares of HCI Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded shares of HCI Group from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, June 7th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $45.25.
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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