Heritage Insurance Holdings Inc. (HRTG) Receives $16.33 Average Target Price from Analysts
Heritage Insurance Holdings Inc. (NYSE:HRTG) has been assigned an average rating of “Hold” from the six ratings firms that are covering the firm. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $16.33.
A number of brokerages recently issued reports on HRTG. Zacks Investment Research lowered Heritage Insurance Holdings from a “hold” rating to a “sell” rating in a report on Friday, November 11th. Citigroup Inc. decreased their price objective on Heritage Insurance Holdings from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Sandler O’Neill raised 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 stock a “buy” rating in a report on Tuesday, August 9th.
In other Heritage Insurance Holdings news, Director Vijay Walvekar sold 5,000 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.10% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new stake in shares of Heritage Insurance Holdings during the first quarter worth approximately $433,000. Goldman Sachs Group Inc. increased its stake in shares of Heritage Insurance Holdings by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 49,608 shares of the company’s stock worth $792,000 after buying an additional 3,597 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Heritage Insurance Holdings by 238.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 58,814 shares of the company’s stock worth $939,000 after buying an additional 41,414 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Heritage Insurance Holdings by 26.0% in the first quarter. Panagora Asset Management Inc. now owns 366,247 shares of the company’s stock worth $5,849,000 after buying an additional 75,643 shares during the period. Finally, GW&K Investment Management LLC increased its stake in shares of Heritage Insurance Holdings by 12.9% in the second quarter. GW&K Investment Management LLC now owns 144,950 shares of the company’s stock worth $1,735,000 after buying an additional 16,607 shares during the period. 52.45% of the stock is owned by hedge funds and other institutional investors.
Heritage Insurance Holdings (NYSE:HRTG) opened at 14.99 on Wednesday. The firm has a market capitalization of $445.20 million, a PE ratio of 7.91 and a beta of 1.13. The stock has a 50 day moving average price of $12.73 and a 200-day moving average price of $12.96. Heritage Insurance Holdings has a 12-month low of $11.25 and a 12-month high of $23.58.
Heritage Insurance Holdings (NYSE:HRTG) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. Heritage Insurance Holdings had a return on equity of 15.58% and a net margin of 13.02%. The business earned $109.30 million during the quarter, compared to the consensus estimate of $109.44 million. During the same period last year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts forecast that Heritage Insurance Holdings will post $1.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, December 13th. Heritage Insurance Holdings’s payout ratio is currently 12.70%.
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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