Heritage Insurance Holdings Inc. (HRTG) Given New $16.00 Price Target at Citigroup Inc.
Other analysts have also recently issued research reports about the company. Sandler O’Neill upgraded Heritage Insurance Holdings from a hold rating to a buy rating and set a $16.00 target price for the company in a report on Friday, September 23rd. Keefe, Bruyette & Woods set a $17.00 target price on Heritage Insurance Holdings and gave the stock a buy rating in a report on Tuesday, August 9th. Finally, Zacks Investment Research upgraded Heritage Insurance Holdings from a strong sell rating to a hold rating in a report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Heritage Insurance Holdings has an average rating of Buy and a consensus target price of $19.00.
Shares of Heritage Insurance Holdings (NYSE:HRTG) traded up 4.92% during trading on Tuesday, reaching $12.80. 158,041 shares of the company’s stock traded hands. The company has a 50 day moving average price of $13.75 and a 200 day moving average price of $13.31. Heritage Insurance Holdings has a 1-year low of $11.50 and a 1-year high of $24.98. The stock has a market capitalization of $380.16 million, a PE ratio of 6.17 and a beta of 0.99.
Heritage Insurance Holdings (NYSE:HRTG) last issued its earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The business earned $115.28 million during the quarter, compared to analysts’ expectations of $113.73 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities analysts forecast that Heritage Insurance Holdings will post $1.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Tuesday, September 13th. Heritage Insurance Holdings’s payout ratio is 11.59%.
In other news, Director James Masiello purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $12.96 per share, with a total value of $259,200.00. Following the transaction, the director now owns 229,795 shares in the company, valued at approximately $2,978,143.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vijay Walvekar sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $13.90, for a total value of $69,500.00. The disclosure for this sale can be found here. 15.10% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Oxford Asset Management raised its stake in Heritage Insurance Holdings by 176.3% in the second quarter. Oxford Asset Management now owns 232,916 shares of the company’s stock valued at $2,788,000 after buying an additional 148,605 shares in the last quarter. Societe Generale bought a new position in shares of Heritage Insurance Holdings during the second quarter worth approximately $1,410,000. SG Americas Securities LLC bought a new position in shares of Heritage Insurance Holdings during the second quarter worth approximately $1,410,000. Ameriprise Financial Inc. increased its position in shares of Heritage Insurance Holdings by 15.1% in the second quarter. Ameriprise Financial Inc. now owns 887,354 shares of the company’s stock worth $10,623,000 after buying an additional 116,196 shares during the last quarter. Finally, Columbia Partners L L C Investment Management bought a new position in shares of Heritage Insurance Holdings during the first quarter worth approximately $1,570,000. 54.81% of the stock is currently owned by institutional investors and hedge funds.
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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