HCI Group Inc (NYSE:HCI) announced a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Stockholders of record on Friday, February 16th will be paid a dividend of 0.35 per share by the insurance provider on Friday, March 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, February 15th.
HCI Group has increased its dividend payment by an average of 8.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. HCI Group has a payout ratio of -350.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect HCI Group to earn $3.15 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 44.4%.
Shares of HCI Group (NYSE:HCI) traded down $0.09 during trading hours on Tuesday, hitting $35.15. The stock had a trading volume of 63,491 shares, compared to its average volume of 184,114. The stock has a market capitalization of $343.84, a P/E ratio of -21.30 and a beta of 2.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.61 and a current ratio of 0.61. HCI Group has a twelve month low of $27.11 and a twelve month high of $50.93.
HCI Group announced that its board has initiated a share buyback plan on Wednesday, December 6th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
HCI has been the subject of a number of research reports. TheStreet downgraded HCI Group from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Zacks Investment Research raised HCI Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, ValuEngine downgraded HCI Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.33.
In related news, CEO Paresh Patel acquired 1,000 shares of HCI Group stock in a transaction on Friday, December 8th. The shares were bought at an average price of $30.30 per share, for a total transaction of $30,300.00. Following the completion of the purchase, the chief executive officer now directly owns 74,000 shares in the company, valued at approximately $2,242,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Politis acquired 2,000 shares of HCI Group stock in a transaction on Monday, December 18th. The shares were bought at an average price of $29.97 per share, for a total transaction of $59,940.00. Following the purchase, the director now owns 194,000 shares of the company’s stock, valued at $5,814,180. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 13,000 shares of company stock valued at $391,360. 20.37% of the stock is owned by company insiders.
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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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