Vijay Walvekar Sells 5,000 Shares of Heritage Insurance Holdings Inc. (HRTG) Stock
Heritage Insurance Holdings Inc. (NYSE:HRTG) Director Vijay Walvekar sold 5,000 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $13.90, for a total value of $69,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Heritage Insurance Holdings Inc. (NYSE:HRTG) opened at 13.20 on Friday. Heritage Insurance Holdings Inc. has a 52 week low of $11.50 and a 52 week high of $24.98. The stock has a market cap of $392.04 million, a price-to-earnings ratio of 6.36 and a beta of 0.99. The company has a 50-day moving average price of $13.78 and a 200-day moving average price of $13.38.
Heritage Insurance Holdings (NYSE:HRTG) last posted its earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. Heritage Insurance Holdings had a net margin of 15.06% and a return on equity of 17.73%. The firm earned $115.28 million during the quarter, compared to the consensus estimate of $113.73 million. During the same quarter last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Heritage Insurance Holdings Inc. will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.82%. Heritage Insurance Holdings’s dividend payout ratio (DPR) is 11.59%.
Several analysts have recently commented on the company. Zacks Investment Research upgraded Heritage Insurance Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday. Sandler O’Neill upgraded Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, September 23rd. Finally, Keefe, Bruyette & Woods set a $17.00 price objective on Heritage Insurance Holdings and gave the company a “buy” rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $21.88.
Several institutional investors have recently bought and sold shares of the company. Trexquant Investment LP acquired a new position in Heritage Insurance Holdings during the second quarter valued at approximately $121,000. Quantitative Systematic Strategies LLC acquired a new position in Heritage Insurance Holdings during the second quarter valued at approximately $130,000. JPMorgan Chase & Co. acquired a new position in Heritage Insurance Holdings during the second quarter valued at approximately $160,000. Ancora Advisors LLC acquired a new position in Heritage Insurance Holdings during the second quarter valued at approximately $180,000. Finally, American International Group Inc. increased its position in Heritage Insurance Holdings by 5.8% in the second quarter. American International Group Inc. now owns 15,305 shares of the company’s stock valued at $183,000 after buying an additional 839 shares during the period. Institutional investors and hedge funds own 54.81% of the company’s stock.
About Heritage Insurance Holdings
Heritage Insurance Holdings, Inc is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company, 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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