Heritage Insurance Holdings, Inc. (NYSE:HRTG) had its price objective upped by analysts at Citigroup Inc. from $17.00 to $18.00 in a research note issued to investors on Tuesday, October 17th. The brokerage presently has a “buy” rating on the insurance provider’s stock. Citigroup Inc.’s target price indicates a potential upside of 6.57% from the stock’s previous close.
A number of other equities analysts have also commented on the company. BidaskClub upgraded Heritage Insurance Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $18.00 price objective on shares of Heritage Insurance Holdings in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $17.00 price objective on shares of Heritage Insurance Holdings in a research note on Thursday, September 21st. TheStreet lowered Heritage Insurance Holdings from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research upgraded Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $18.00.
Shares of Heritage Insurance Holdings (NYSE HRTG) traded up $0.36 during trading on Tuesday, reaching $16.89. 189,377 shares of the company’s stock were exchanged, compared to its average volume of 509,002. The firm has a market capitalization of $408.46, a price-to-earnings ratio of 1,653.00 and a beta of 1.44. Heritage Insurance Holdings has a 1 year low of $8.85 and a 1 year high of $16.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.97 and a quick ratio of 0.97.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.23). Heritage Insurance Holdings had a net margin of 0.27% and a return on equity of 0.31%. The firm had revenue of $101.77 million for the quarter, compared to analyst estimates of $99.01 million. During the same period in the previous year, the business posted $0.37 EPS. Heritage Insurance Holdings’s revenue for the quarter was down 6.9% on a year-over-year basis. research analysts expect that Heritage Insurance Holdings will post 0.73 earnings per share for the current year.
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In other Heritage Insurance Holdings news, President Richard A. Widdicombe acquired 25,800 shares of Heritage Insurance Holdings stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $11.53 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bruce Lucas acquired 22,000 shares of Heritage Insurance Holdings stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $11.58 per share, with a total value of $254,760.00. Following the completion of the purchase, the chief executive officer now owns 869,595 shares in the company, valued at $10,069,910.10. The disclosure for this purchase can be found here. Insiders have acquired a total of 91,350 shares of company stock valued at $1,051,923 in the last quarter. Corporate insiders own 17.90% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its stake in Heritage Insurance Holdings by 93.1% in the 3rd quarter. New York State Common Retirement Fund now owns 56,966 shares of the insurance provider’s stock valued at $753,000 after purchasing an additional 27,466 shares during the last quarter. Boston Partners lifted its stake in Heritage Insurance Holdings by 35.4% in the 3rd quarter. Boston Partners now owns 226,569 shares of the insurance provider’s stock valued at $2,993,000 after purchasing an additional 59,207 shares during the last quarter. First Trust Advisors LP acquired a new stake in Heritage Insurance Holdings in the 3rd quarter valued at about $267,000. Kirr Marbach & Co. LLC IN lifted its stake in Heritage Insurance Holdings by 116.2% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 48,420 shares of the insurance provider’s stock valued at $640,000 after purchasing an additional 26,025 shares during the last quarter. Finally, State Street Corp lifted its stake in Heritage Insurance Holdings by 6.3% in the 2nd quarter. State Street Corp now owns 484,242 shares of the insurance provider’s stock valued at $6,304,000 after purchasing an additional 28,728 shares during the last quarter. Institutional investors and hedge funds own 60.72% of the company’s stock.
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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