BidaskClub upgraded shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) from a hold rating to a buy rating in a research note released on Tuesday, October 17th.
Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Heritage Insurance Holdings from a c rating to a b- rating in a report on Monday, June 26th. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $18.00 price target on shares of Heritage Insurance Holdings in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $17.00 price target on shares of Heritage Insurance Holdings in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Heritage Insurance Holdings from a sell rating to a hold rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $18.00.
Heritage Insurance Holdings (NYSE HRTG) traded up $0.36 during trading hours on Tuesday, hitting $16.89. The stock had a trading volume of 136,192 shares, compared to its average volume of 509,002. Heritage Insurance Holdings has a 12 month low of $8.85 and a 12 month high of $16.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $408.46, a PE ratio of 1,653.00 and a beta of 1.44.
Heritage Insurance Holdings (NYSE:HRTG) last posted its earnings results on Wednesday, November 1st. The insurance provider reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.23). The firm 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 0.31% and a net margin of 0.27%. Heritage Insurance Holdings’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. equities analysts expect that Heritage Insurance Holdings will post 0.73 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.42%. Heritage Insurance Holdings’s dividend payout ratio is 2,400.00%.
In other news, President Richard A. Widdicombe purchased 16,500 shares of Heritage Insurance Holdings stock in a transaction dated Friday, August 25th. The stock was purchased at an average cost of $11.32 per share, for a total transaction of $186,780.00. Following the transaction, the president now directly owns 775,612 shares of the company’s stock, valued at $8,779,927.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Richard A. Widdicombe purchased 25,800 shares of Heritage Insurance Holdings stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $11.53 per share, with a total value of $297,474.00. Following the completion of the transaction, the president now directly owns 759,112 shares in the company, valued at $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 over the last quarter. 17.90% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in HRTG. Bank of New York Mellon Corp grew its position in Heritage Insurance Holdings by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 194,527 shares of the insurance provider’s stock worth $2,484,000 after acquiring an additional 15,789 shares in the last quarter. Swiss National Bank grew its position in Heritage Insurance Holdings by 8.0% in the first quarter. Swiss National Bank now owns 44,300 shares of the insurance provider’s stock worth $566,000 after acquiring an additional 3,300 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Heritage Insurance Holdings by 69.1% in the first quarter. UBS Asset Management Americas Inc. now owns 18,600 shares of the insurance provider’s stock worth $238,000 after acquiring an additional 7,600 shares in the last quarter. American International Group Inc. grew its position in 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 worth $209,000 after acquiring an additional 1,077 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Heritage Insurance Holdings by 36.9% in the first quarter. Alliancebernstein L.P. now owns 213,560 shares of the insurance provider’s stock worth $2,727,000 after purchasing an additional 57,580 shares during the last quarter. Institutional investors 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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