Shares of Heritage Insurance Holdings Inc (NYSE:HRTG) have been given an average rating of “Hold” by the six research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.17.
A number of equities analysts have recently issued reports on HRTG shares. Zacks Investment Research cut Heritage Insurance from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. ValuEngine cut Heritage Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, JMP Securities upgraded Heritage Insurance from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Tuesday.
Heritage Insurance stock opened at $15.80 on Tuesday. Heritage Insurance has a 52 week low of $12.85 and a 52 week high of $17.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $465.20 million, a P/E ratio of 15.20 and a beta of 0.96.
Heritage Insurance (NYSE:HRTG) last posted its earnings results on Friday, March 1st. The insurance provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.20. Heritage Insurance had a return on equity of 6.70% and a net margin of 3.97%. The business had revenue of $124.88 million during the quarter, compared to analysts’ expectations of $125.97 million. As a group, equities research analysts predict that Heritage Insurance will post 1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, June 13th. Heritage Insurance’s payout ratio is currently 17.39%.
In related news, CFO Kirk Lusk bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average cost of $14.33 per share, for a total transaction of $71,650.00. Following the acquisition, the chief financial officer now directly owns 128,331 shares of the company’s stock, valued at approximately $1,838,983.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce Lucas bought 1,806 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $13.92 per share, with a total value of $25,139.52. Following the completion of the acquisition, the chief executive officer now directly owns 946,859 shares in the company, valued at $13,180,277.28. The disclosure for this purchase can be found here. Insiders bought a total of 7,915 shares of company stock valued at $112,349 over the last quarter. Company insiders own 12.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of HRTG. Quantamental Technologies LLC purchased a new stake in Heritage Insurance during the 4th quarter valued at about $29,000. Nisa Investment Advisors LLC purchased a new stake in Heritage Insurance during the 4th quarter valued at about $29,000. Public Employees Retirement System of Ohio purchased a new stake in Heritage Insurance during the 4th quarter valued at about $36,000. Legal & General Group Plc boosted its holdings in Heritage Insurance by 24.9% during the 4th quarter. Legal & General Group Plc now owns 3,908 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 779 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in Heritage Insurance by 254.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,188 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 3,006 shares during the period. Institutional investors own 64.31% of the company’s stock.
About Heritage Insurance
Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.
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