HCI Group (HCI) Declares $0.40 Dividend

HCI Group said on April 19, 2023 that its board of directors declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Previously, the company paid $0.40 per share.

Shares must be purchased before the ex-div date of May 18, 2023 to qualify for the dividend. Shareholders of record as of May 19, 2023 will receive the payment on June 16, 2023.

At the current share price of $52.95 / share, the stock's dividend yield is 3.02%. Looking back five years and taking a sample every week, the average dividend yield has been 3.08%, the lowest has been 1.17%, and the highest has been 5.63%. The standard deviation of yields is 0.84 (n=237).

The current dividend yield is 0.06 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is -0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 299 funds or institutions reporting positions in HCI Group. This is a decrease of 34 owner(s) or 10.21% in the last quarter. Average portfolio weight of all funds dedicated to HCI is 0.05%, a decrease of 28.38%. Total shares owned by institutions decreased in the last three months by 21.56% to 8,254K shares. The put/call ratio of HCI is 0.46, indicating a bullish outlook.

Analyst Price Forecast Suggests 54.75% Upside

As of April 6, 2023, the average one-year price target for HCI Group is $81.94. The forecasts range from a low of $66.66 to a high of $105.00. The average price target represents an increase of 54.75% from its latest reported closing price of $52.95.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for HCI Group is $563MM, an increase of 13.35%. The projected annual non-GAAP EPS is $1.11.

What are Other Shareholders Doing?

Northern Trust holds 46K shares representing 0.53% ownership of the company. No change in the last quarter.

DFA INVESTMENT DIMENSIONS GROUP INC - U.S. Sustainability Core 1 Portfolio Shares holds 3K shares representing 0.04% ownership of the company. No change in the last quarter.

EQ ADVISORS TRUST - ATM Small Cap Managed Volatility Portfolio Class K holds 2K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 3K shares, representing a decrease of 15.39%. The firm decreased its portfolio allocation in HCI by 14.34% over the last quarter.

BDSIX - BlackRock Advantage Small Cap Core Fund Institutional Shares holds 2K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 14K shares, representing a decrease of 668.90%. The firm decreased its portfolio allocation in HCI by 92.40% over the last quarter.

Schonfeld Strategic Advisors holds 10K shares representing 0.11% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

HCI Group Background Information
(This description is provided by the company.)

HCI Group, Inc. is an InsurTech company with operations in insurance, software development and real estate. HCI's leading insurance operation, TypTap Insurance Company, is a rapidly growing, technology-driven insurance company that is expanding nationwide to provide homeowners and flood insurance. TypTap's operations are powered in large part by insurance-related information technology developed by HCI's software subsidiary, Exzeo USA, Inc. HCI's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides homeowners' insurance primarily in Florida. HCI's real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

This story originally appeared on Fintel.