Heritage Insurance Holdings Inc. (NYSE:HRTG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company. Through its subsidiary, Heritage Property & Casualty Insurance Company, the Company provides personal residential insurance for single-family homeowners and condominium owners. Heritage Insurance Holdings, Inc. is based in Clearwater, Florida. “
Several other brokerages also recently issued reports on HRTG. Sandler O’Neill raised Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, September 23rd. Keefe, Bruyette & Woods set a $17.00 price target on Heritage Insurance Holdings and gave the stock a “buy” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $21.88.
Shares of Heritage Insurance Holdings (NYSE:HRTG) opened at 14.01 on Wednesday. Heritage Insurance Holdings has a 52-week low of $11.50 and a 52-week high of $24.98. The firm’s 50-day moving average price is $13.74 and its 200-day moving average price is $13.40. The stock has a market capitalization of $416.10 million, a P/E ratio of 6.75 and a beta of 0.98.
Heritage Insurance Holdings (NYSE:HRTG) last released its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The company had revenue of $115.28 million for the quarter, compared to the consensus estimate of $113.73 million. Heritage Insurance Holdings’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Equities analysts forecast that Heritage Insurance Holdings will post $1.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, September 13th. Heritage Insurance Holdings’s dividend payout ratio is currently 11.59%.
In other Heritage Insurance Holdings news, Director James Masiello bought 20,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average cost of $12.96 per share, for a total transaction of $259,200.00. Following the transaction, the director now directly owns 229,795 shares in the company, valued at $2,978,143.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.10% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Heritage Insurance Holdings during the second quarter valued at approximately $256,000. GW&K Investment Management LLC boosted its stake in 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 valued at $1,735,000 after buying an additional 16,607 shares in the last quarter. Royal Bank of Canada boosted its stake in Heritage Insurance Holdings by 13.4% in the first quarter. Royal Bank of Canada now owns 41,572 shares of the company’s stock valued at $664,000 after buying an additional 4,919 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Heritage Insurance Holdings by 26.0% in the first quarter. Panagora Asset Management Inc. now owns 366,247 shares of the company’s stock valued at $5,849,000 after buying an additional 75,643 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Heritage Insurance Holdings by 3.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,152 shares of the company’s stock valued at $290,000 after buying an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 54.81% of the company’s stock.
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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