Heritage Insurance Holdings Inc (NYSE:HRTG) Director Steven C. Martindale bought 1,002 shares of Heritage Insurance stock in a transaction on Tuesday, November 6th. The shares were acquired at an average cost of $16.21 per share, with a total value of $16,242.42. Following the completion of the acquisition, the director now owns 12,673 shares of the company’s stock, valued at approximately $205,429.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE HRTG opened at $16.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.78 and a quick ratio of 0.81. The firm has a market capitalization of $432.26 million, a PE ratio of 10.62 and a beta of 1.16. Heritage Insurance Holdings Inc has a 1 year low of $12.85 and a 1 year high of $19.15.
Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.36. The firm had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $123.59 million. Heritage Insurance had a net margin of 3.92% and a return on equity of 13.85%. As a group, research analysts predict that Heritage Insurance Holdings Inc will post 1.18 earnings per share for the current fiscal year.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a report on Wednesday. Sandler O’Neill reaffirmed a “buy” rating and set a $19.00 target price on shares of Heritage Insurance in a report on Friday, August 3rd. ValuEngine cut shares of Heritage Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Finally, Citigroup reduced their target price on shares of Heritage Insurance from $17.00 to $16.50 and set a “buy” rating for the company in a report on Friday, October 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.92.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in shares of Heritage Insurance by 49.1% in the third quarter. Prudential Financial Inc. now owns 32,590 shares of the insurance provider’s stock worth $483,000 after purchasing an additional 10,730 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Heritage Insurance by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 934,894 shares of the insurance provider’s stock worth $13,855,000 after purchasing an additional 9,982 shares in the last quarter. LSV Asset Management increased its stake in shares of Heritage Insurance by 6.9% in the third quarter. LSV Asset Management now owns 953,032 shares of the insurance provider’s stock worth $14,123,000 after purchasing an additional 61,502 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Heritage Insurance by 56.4% in the third quarter. Victory Capital Management Inc. now owns 107,000 shares of the insurance provider’s stock worth $1,585,000 after purchasing an additional 38,565 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management increased its stake in shares of Heritage Insurance by 13.7% in the third quarter. Mesirow Financial Investment Management Equity Management now owns 751,268 shares of the insurance provider’s stock worth $11,133,000 after purchasing an additional 90,745 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.
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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, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.
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