Heritage Insurance Holdings (HRTG) Receiving Somewhat Favorable Press Coverage, Analysis Shows
News coverage about Heritage Insurance Holdings (NYSE:HRTG) has trended somewhat positive recently, according to AlphaOne Sentiment Analysis. The research firm, a unit of Accern, identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. AlphaOne ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Heritage Insurance Holdings earned a daily sentiment score of 0.15 on AlphaOne’s scale. AlphaOne also gave news headlines about the insurance provider an impact score of 61 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the stock’s share price in the immediate future.
Shares of Heritage Insurance Holdings (HRTG) traded up 0.23% during midday trading on Friday, reaching $13.29. The company’s stock had a trading volume of 233,342 shares. The stock has a 50-day moving average price of $12.68 and a 200-day moving average price of $13.82. Heritage Insurance Holdings has a 52-week low of $11.25 and a 52-week high of $16.48. The stock has a market cap of $394.71 million, a price-to-earnings ratio of 11.98 and a beta of 1.31.
Heritage Insurance Holdings (NYSE:HRTG) last posted its earnings results on Thursday, May 4th. The insurance provider reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Heritage Insurance Holdings had a return on equity of 8.83% and a net margin of 7.60%. The firm had revenue of $99.29 million for the quarter, compared to the consensus estimate of $103.47 million. Equities research analysts anticipate that Heritage Insurance Holdings will post $1.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.81%. Heritage Insurance Holdings’s dividend payout ratio (DPR) is 21.62%.
Several equities research analysts recently commented on HRTG shares. Citigroup Inc. reaffirmed a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of Heritage Insurance Holdings in a research note on Friday, April 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $17.00 target price on shares of Heritage Insurance Holdings in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut Heritage Insurance Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.33.
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In other Heritage Insurance Holdings news, Director Vijay Walvekar sold 42,000 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $12.41, for a total transaction of $521,220.00. Following the transaction, the director now owns 80,000 shares in the company, valued at approximately $992,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bruce Lucas bought 16,000 shares of Heritage Insurance Holdings stock in a transaction on Monday, March 20th. The shares were purchased at an average price of $12.57 per share, for a total transaction of $201,120.00. Following the acquisition, the chief executive officer now directly owns 764,333 shares in the company, valued at approximately $9,607,665.81. The disclosure for this purchase can be found here. 15.10% of the stock is currently owned by corporate insiders.
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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