Insider Buying: Heritage Insurance Holdings, Inc. (HRTG) President Buys 16,500 Shares of Stock
Heritage Insurance Holdings, Inc. (NYSE:HRTG) President Richard A. Widdicombe acquired 16,500 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of $11.32 per share, with a total value of $186,780.00. Following the completion of the transaction, the president now owns 775,612 shares of the company’s stock, valued at $8,779,927.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) traded up 0.61% on Friday, reaching $11.46. The company’s stock had a trading volume of 404,944 shares. The firm’s 50 day moving average is $12.14 and its 200-day moving average is $12.83. Heritage Insurance Holdings, Inc. has a 52-week low of $11.19 and a 52-week high of $16.48. The stock has a market cap of $340.36 million, a P/E ratio of 16.16 and a beta of 1.29.
Heritage Insurance Holdings (NYSE:HRTG) last announced its earnings results on Tuesday, August 8th. The insurance provider reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. Heritage Insurance Holdings had a return on equity of 5.67% and a net margin of 5.07%. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $100.17 million. During the same period last year, the firm earned $0.62 EPS. Heritage Insurance Holdings’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post $1.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 2.09%. Heritage Insurance Holdings’s dividend payout ratio is currently 33.33%.
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A number of institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in shares of Heritage Insurance Holdings during the first quarter worth approximately $167,000. Balyasny Asset Management LLC boosted its position in shares of Heritage Insurance Holdings by 18.0% in the second quarter. Balyasny Asset Management LLC now owns 14,082 shares of the insurance provider’s stock worth $183,000 after buying an additional 2,148 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Heritage Insurance Holdings by 16.9% in the second quarter. Voya Investment Management LLC now owns 15,066 shares of the insurance provider’s stock worth $196,000 after buying an additional 2,181 shares in the last quarter. American International Group Inc. boosted its position in shares of Heritage Insurance Holdings by 7.0% in the first quarter. American International Group Inc. now owns 16,365 shares of the insurance provider’s stock worth $209,000 after buying an additional 1,077 shares in the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in shares of Heritage Insurance Holdings during the first quarter worth approximately $229,000. 57.60% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on HRTG shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $17.00 target price on shares of Heritage Insurance Holdings in a report on Friday, June 2nd. Zacks Investment Research upgraded Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. TheStreet upgraded Heritage Insurance Holdings from a “c” rating to a “b-” rating in a report on Monday, June 26th. Finally, BidaskClub upgraded Heritage Insurance Holdings from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Heritage Insurance Holdings has an average rating of “Hold” and a consensus target price of $16.33.
About Heritage Insurance Holdings
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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