Heritage Insurance Holdings, Inc. (NYSE:HRTG) announced its quarterly earnings results on Wednesday. The insurance provider reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.23), Briefing.com reports. Heritage Insurance Holdings had a net margin of 5.07% and a return on equity of 5.67%. The firm had revenue of $101.77 million during the quarter, compared to the consensus estimate of $99.01 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, November 16th. Heritage Insurance Holdings’s dividend payout ratio is currently 33.33%.
Several brokerages have commented on HRTG. SunTrust Banks, Inc. reissued a “buy” rating and issued a $18.00 price target on shares of Heritage Insurance Holdings in a report on Wednesday. BidaskClub raised shares of Heritage Insurance Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 28th. TheStreet raised shares of Heritage Insurance Holdings from a “c+” rating to a “b” rating in a report on Monday, October 16th. Citigroup Inc. raised their price target on shares of Heritage Insurance Holdings from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $17.00 price target on shares of Heritage Insurance Holdings in a report on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.67.
In other Heritage Insurance Holdings news, President Richard A. Widdicombe acquired 25,800 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $11.53 per share, for a total transaction of $297,474.00. Following the completion of the transaction, the president now directly owns 759,112 shares of the company’s stock, valued at $8,752,561.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Richard A. Widdicombe acquired 16,500 shares of the stock in a transaction on Friday, August 25th. The shares were acquired at an average price of $11.32 per share, with a total value of $186,780.00. Following the transaction, the president now directly owns 775,612 shares of the company’s stock, valued at $8,779,927.84. The disclosure for this purchase can be found here. Insiders have acquired 91,350 shares of company stock valued at $1,051,923 in the last quarter. 16.10% of the stock is owned by company insiders.
About Heritage Insurance Holdings
Heritage Insurance Holdings, Inc (Heritage Insurance) is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company (Heritage P&C), it provides personal residential insurance for single-family homeowners and condominium owners, rental property insurance and commercial residential insurance in the state of Florida and North Carolina.
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