Heritage Insurance Holdings Inc (HRTG) Director Purchases $16,242.42 in Stock

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Heritage Insurance Holdings Inc (NYSE:HRTG) Director Steven C. Martindale bought 1,002 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average price of $16.21 per share, with a total value of $16,242.42. Following the transaction, the director now owns 12,673 shares of the company’s stock, valued at approximately $205,429.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HRTG stock opened at $16.25 on Friday. Heritage Insurance Holdings Inc has a 52 week low of $12.85 and a 52 week high of $19.15. 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 cap of $432.26 million, a price-to-earnings ratio of 10.62 and a beta of 1.16.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.36. Heritage Insurance had a net margin of 3.92% and a return on equity of 13.85%. The business had revenue of $125.30 million during the quarter, compared to analyst estimates of $123.59 million. Research analysts anticipate that Heritage Insurance Holdings Inc will post 1.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Saturday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.24 annualized dividend and a yield of 1.48%. Heritage Insurance’s dividend payout ratio (DPR) is currently 15.69%.

A number of hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management lifted its position in Heritage Insurance by 6.9% during the third quarter. LSV Asset Management now owns 953,032 shares of the insurance provider’s stock valued at $14,123,000 after purchasing an additional 61,502 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Heritage Insurance by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 934,894 shares of the insurance provider’s stock valued at $13,855,000 after purchasing an additional 9,982 shares during the last quarter. Royce & Associates LP lifted its position in Heritage Insurance by 7.0% during the second quarter. Royce & Associates LP now owns 809,858 shares of the insurance provider’s stock valued at $13,500,000 after purchasing an additional 52,900 shares during the last quarter. Mesirow Financial Investment Management Equity Management lifted its position in Heritage Insurance by 13.7% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 751,268 shares of the insurance provider’s stock valued at $11,133,000 after purchasing an additional 90,745 shares during the last quarter. Finally, Northpointe Capital LLC bought a new position in Heritage Insurance during the second quarter valued at $12,010,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

A number of brokerages recently weighed in on HRTG. Zacks Investment Research upgraded shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Citigroup lowered their price objective on shares of Heritage Insurance from $17.00 to $16.50 and set a “buy” rating for the company in a research report on Friday, October 12th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $19.00 price objective on shares of Heritage Insurance in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Heritage Insurance presently has an average rating of “Buy” and an average price target of $19.92.

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Heritage Insurance Company Profile

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.

See Also: Hedge Funds Explained

Insider Buying and Selling by Quarter for Heritage Insurance (NYSE:HRTG)

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