Heritage Insurance Holdings Inc. (HRTG) Upgraded to “Hold” at TheStreet
HRTG has been the topic of a number of other research reports. Sandler O’Neill upgraded Heritage Insurance Holdings from a hold rating to a buy rating and set a $16.00 target price on the stock in a research report on Friday, September 23rd. Zacks Investment Research upgraded Heritage Insurance Holdings from a strong sell rating to a hold rating in a research report on Wednesday, October 5th. Citigroup Inc. cut their target price on Heritage Insurance Holdings from $17.00 to $16.00 and set a buy rating on the stock in a research report on Tuesday, October 11th. Finally, Keefe, Bruyette & Woods set a $17.00 target price on Heritage Insurance Holdings and gave the stock a buy rating in a research 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 given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $16.33.
Shares of Heritage Insurance Holdings (NYSE:HRTG) traded up 0.47% during trading on Friday, reaching $15.06. The company’s stock had a trading volume of 219,144 shares. Heritage Insurance Holdings has a 52 week low of $11.25 and a 52 week high of $23.38. The company has a 50 day moving average price of $12.77 and a 200 day moving average price of $13.01. The firm has a market capitalization of $447.28 million, a P/E ratio of 7.95 and a beta of 1.13.
Heritage Insurance Holdings (NYSE:HRTG) last posted its earnings results on Tuesday, November 8th. The company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $109.30 million for the quarter, compared to analyst estimates of $109.44 million. During the same quarter last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts expect that Heritage Insurance Holdings will post $1.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 13th. Heritage Insurance Holdings’s dividend payout ratio is presently 12.70%.
In other Heritage Insurance Holdings news, Director Vijay Walvekar sold 5,000 shares of Heritage Insurance Holdings stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total value of $69,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in shares of Heritage Insurance Holdings during the second quarter worth $121,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Heritage Insurance Holdings during the second quarter worth $130,000. BlackRock Group LTD raised its stake in shares of Heritage Insurance Holdings by 5.0% in the third quarter. BlackRock Group LTD now owns 9,537 shares of the company’s stock worth $137,000 after buying an additional 453 shares in the last quarter. Cutler Group LP acquired a new stake in shares of Heritage Insurance Holdings during the third quarter worth $146,000. Finally, Hancock Holding Co. acquired a new stake in shares of Heritage Insurance Holdings during the third quarter worth $151,000. 52.45% of the stock is currently owned by institutional investors.
Heritage Insurance Holdings Company Profile
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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