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.

COPYRIGHT VIOLATION NOTICE: This article was published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/07/10/hci-group-inc-to-issue-quarterly-dividend-of-0-35-nysehci.html.

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.

Dividend History for HCI Group (NYSE:HCI)

Receive News & Ratings for HCI Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HCI Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.