Somewhat Favorable News Coverage Somewhat Unlikely to Impact Heritage Insurance Holdings (HRTG) Stock Price
News stories about Heritage Insurance Holdings (NYSE:HRTG) have been trending somewhat positive on Wednesday, Accern Sentiment reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Heritage Insurance Holdings earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned media headlines about the insurance provider an impact score of 45.0800196302801 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Shares of Heritage Insurance Holdings (HRTG) traded up 7.17% during midday trading on Wednesday, reaching $10.02. The company had a trading volume of 1,411,641 shares. The stock has a market capitalization of $297.59 million, a PE ratio of 14.13 and a beta of 1.30. The company’s 50-day moving average is $11.89 and its 200-day moving average is $12.63. Heritage Insurance Holdings has a 1-year low of $9.03 and a 1-year high of $16.48.
Heritage Insurance Holdings (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $96.90 million during the quarter, compared to analysts’ expectations of $100.17 million. Heritage Insurance Holdings had a return on equity of 5.67% and a net margin of 5.07%. Heritage Insurance Holdings’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts forecast that Heritage Insurance Holdings will post $1.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, September 14th. Heritage Insurance Holdings’s dividend payout ratio (DPR) is presently 33.33%.
Several equities research analysts recently weighed in on HRTG shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $17.00 price objective on shares of Heritage Insurance Holdings in a report on Friday, June 2nd. TheStreet raised Heritage Insurance Holdings from a “c” rating to a “b-” rating in a report on Monday, June 26th. Zacks Investment Research raised Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub raised Heritage Insurance Holdings from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.33.
In related news, Director James Masiello purchased 10,000 shares of Heritage Insurance Holdings stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $11.71 per share, for a total transaction of $117,100.00. Following the completion of the transaction, the director now directly owns 239,795 shares in the company, valued at approximately $2,807,999.45. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Richard A. Widdicombe purchased 25,800 shares of Heritage Insurance Holdings stock in a transaction on Friday, August 11th. The stock was bought at an average price of $11.53 per share, with a total value of $297,474.00. Following the transaction, the president now owns 759,112 shares of the company’s stock, valued at $8,752,561.36. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 90,200 shares of company stock valued at $1,040,050. 16.10% of the stock is owned by company 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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