Keefe, Bruyette & Woods reiterated their buy rating on shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) in a research report released on Thursday morning. Keefe, Bruyette & Woods currently has a $17.00 target price on the insurance provider’s stock.
Other research analysts also recently issued research reports about the company. TheStreet downgraded Heritage Insurance Holdings from a b- rating to a c rating in a research note on Friday, August 4th. BidaskClub raised Heritage Insurance Holdings from a sell rating to a hold rating in a research note on Thursday, September 14th. Finally, Zacks Investment Research raised Heritage Insurance Holdings from a sell rating to a hold rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Heritage Insurance Holdings has a consensus rating of Hold and an average target price of $16.50.
Shares of Heritage Insurance Holdings (NYSE HRTG) opened at 12.25 on Thursday. Heritage Insurance Holdings has a 52-week low of $8.85 and a 52-week high of $16.48. The firm has a 50-day moving average of $11.67 and a 200 day moving average of $12.40. The firm has a market cap of $363.83 million, a PE ratio of 17.28 and a beta of 1.30.
Heritage Insurance Holdings (NYSE:HRTG) last issued its earnings results on Tuesday, August 8th. The insurance provider reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $96.90 million during the quarter, compared to the consensus estimate of $100.17 million. Heritage Insurance Holdings had a return on equity of 5.67% and a net margin of 5.07%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Heritage Insurance Holdings will post $0.92 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 14th. Heritage Insurance Holdings’s payout ratio is 33.33%.
In other Heritage Insurance Holdings news, President Richard A. Widdicombe bought 25,800 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $11.53 per share, with a total value of $297,474.00. Following the completion of the purchase, the president now owns 759,112 shares in the company, valued at $8,752,561.36. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, President Richard A. Widdicombe bought 16,500 shares of the stock in a transaction on Friday, August 25th. The shares were acquired at an average cost of $11.32 per share, with a total value of $186,780.00. Following the purchase, the president now owns 775,612 shares of the company’s stock, valued at approximately $8,779,927.84. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 91,350 shares of company stock valued at $1,051,923. Insiders own 16.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in shares of Heritage Insurance Holdings in the first quarter valued at approximately $167,000. Balyasny Asset Management LLC increased its stake in shares of Heritage Insurance Holdings by 18.0% in the second quarter. Balyasny Asset Management LLC now owns 14,082 shares of the insurance provider’s stock valued at $183,000 after buying an additional 2,148 shares during the period. Voya Investment Management LLC increased its stake in shares of Heritage Insurance Holdings by 16.9% in the second quarter. Voya Investment Management LLC now owns 15,066 shares of the insurance provider’s stock valued at $196,000 after buying an additional 2,181 shares during the period. American International Group Inc. increased its stake in shares of Heritage Insurance Holdings by 7.0% in the first quarter. American International Group Inc. now owns 16,365 shares of the insurance provider’s stock valued at $209,000 after buying an additional 1,077 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new position in shares of Heritage Insurance Holdings in the first quarter valued at approximately $229,000. 61.29% of the stock is owned by institutional investors.
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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