Other analysts have also recently issued reports about the stock. SunTrust Banks, Inc. restated a buy rating and set a $18.00 target price on shares of Heritage Insurance Holdings in a report on Tuesday, September 26th. Keefe, Bruyette & Woods restated a buy rating and set a $17.00 target price on shares of Heritage Insurance Holdings in a report on Thursday, September 21st. BidaskClub cut shares of Heritage Insurance Holdings from a strong-buy rating to a buy rating in a report on Friday. Citigroup Inc. raised their target price on shares of Heritage Insurance Holdings from $17.00 to $18.00 and gave the stock a buy rating in a report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Heritage Insurance Holdings from a sell rating to a hold rating in a report on Tuesday, July 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $18.00.
Heritage Insurance Holdings (HRTG) opened at $16.53 on Wednesday. Heritage Insurance Holdings has a 12 month low of $8.85 and a 12 month high of $16.72. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.20. The company has a market cap of $403.33, a P/E ratio of 1,653.00 and a beta of 1.44.
Heritage Insurance Holdings (NYSE:HRTG) last issued its earnings results on Wednesday, November 1st. The insurance provider reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.23). The business had revenue of $101.77 million for the quarter, compared to the consensus estimate of $99.01 million. Heritage Insurance Holdings had a return on equity of 0.30% and a net margin of 0.27%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. research analysts expect that Heritage Insurance Holdings will post 0.73 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 yield of 1.45%. The ex-dividend date is Thursday, November 16th. Heritage Insurance Holdings’s payout ratio is 2,402.40%.
In other news, Director James Masiello acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $11.71 per share, with a total value of $117,100.00. Following the purchase, the director now owns 239,795 shares of the company’s stock, valued at approximately $2,807,999.45. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Richard A. Widdicombe acquired 25,800 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $11.53 per share, with a total value of $297,474.00. Following the purchase, the president now directly owns 759,112 shares in the company, valued at approximately $8,752,561.36. The disclosure for this purchase can be found here. Insiders purchased a total of 91,350 shares of company stock valued at $1,051,923 in the last ninety days. Company insiders own 16.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in Heritage Insurance Holdings in the 1st quarter worth approximately $167,000. Balyasny Asset Management LLC boosted its stake in Heritage Insurance Holdings by 18.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 14,082 shares of the insurance provider’s stock worth $183,000 after purchasing an additional 2,148 shares during the period. Voya Investment Management LLC boosted its stake in Heritage Insurance Holdings by 16.9% in the 2nd quarter. Voya Investment Management LLC now owns 15,066 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 2,181 shares during the period. American International Group Inc. boosted its stake in Heritage Insurance Holdings by 7.0% in the 1st quarter. American International Group Inc. now owns 16,365 shares of the insurance provider’s stock worth $209,000 after purchasing an additional 1,077 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Heritage Insurance Holdings by 69.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 18,600 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 7,600 shares during the period. 60.72% of the stock is owned by hedge funds and other institutional investors.
Heritage Insurance Holdings Company Profile
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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