HCI Group, Inc. (NYSE:HCI) announced a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Investors of record on Friday, November 17th will be paid a dividend of 0.35 per share by the insurance provider on Friday, December 15th. This represents a $1.40 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, November 16th.

HCI Group has decreased its dividend payment by an average of 1.8% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. HCI Group has a payout ratio of 823.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect HCI Group to earn $3.87 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 36.2%.

Shares of HCI Group (NYSE:HCI) traded up 0.53% during midday trading on Tuesday, reaching $38.03. 62,073 shares of the company traded hands. The company has a 50 day moving average price of $36.86 and a 200 day moving average price of $42.70. HCI Group has a 1-year low of $25.50 and a 1-year high of $50.93. The company has a market capitalization of $379.77 million, a PE ratio of 10.47 and a beta of 2.32.

HCI Group (NYSE:HCI) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. HCI Group had a net margin of 13.52% and a return on equity of 15.65%. The business had revenue of $67.58 million for the quarter, compared to analyst estimates of $64.33 million. During the same quarter in the prior year, the business posted $0.71 EPS. HCI Group’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that HCI Group will post $0.68 earnings per share for the current year.

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In related news, CEO Paresh Patel purchased 1,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were acquired at an average price of $36.06 per share, for a total transaction of $36,060.00. Following the purchase, the chief executive officer now owns 227,000 shares of the company’s stock, valued at approximately $8,185,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 1,565 shares of company stock worth $56,894 in the last 90 days. 20.37% of the stock is currently owned by company insiders.

HCI has been the topic of a number of recent analyst reports. SunTrust Banks, Inc. initiated coverage on shares of HCI Group in a research note on Tuesday, July 4th. They set a “buy” rating and a $52.00 price target on the stock. Sidoti upgraded shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, September 11th. TheStreet lowered shares of HCI Group from a “b-” rating to a “c” rating in a research note on Thursday, September 28th. ValuEngine lowered shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Zacks Investment Research lowered shares of HCI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.33.

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)

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