Shares of Heritage Insurance Holdings Inc (NYSE:HRTG) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.17.
A number of analysts recently weighed in on HRTG shares. JMP Securities raised shares of Heritage Insurance from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday, May 14th. Zacks Investment Research raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, ValuEngine lowered shares of Heritage Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th.
In related news, CFO Kirk Lusk purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $14.33 per share, with a total value of $71,650.00. Following the acquisition, the chief financial officer now directly owns 128,331 shares of the company’s stock, valued at $1,838,983.23. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bruce Lucas purchased 1,806 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $13.92 per share, for a total transaction of $25,139.52. Following the acquisition, the chief executive officer now directly owns 946,859 shares in the company, valued at $13,180,277.28. The disclosure for this purchase can be found here. Insiders bought a total of 7,915 shares of company stock worth $112,349 in the last three months. Insiders own 12.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Quantamental Technologies LLC purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at $29,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Heritage Insurance in the 4th quarter valued at $36,000. Legal & General Group Plc boosted its stake in shares of Heritage Insurance by 24.9% in the 4th quarter. Legal & General Group Plc now owns 3,908 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 779 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Heritage Insurance by 254.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,188 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 3,006 shares in the last quarter. 64.31% of the stock is currently owned by hedge funds and other institutional investors.
Heritage Insurance stock traded up $0.03 during midday trading on Tuesday, reaching $15.33. 127,300 shares of the stock were exchanged, compared to its average volume of 142,941. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $469.10 million, a PE ratio of 11.04 and a beta of 0.96. Heritage Insurance has a 52 week low of $12.85 and a 52 week high of $17.99.
Heritage Insurance (NYSE:HRTG) last posted its earnings results on Friday, March 1st. The insurance provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.20. The business had revenue of $124.88 million for the quarter, compared to analyst estimates of $125.97 million. Heritage Insurance had a net margin of 3.97% and a return on equity of 6.70%. Research analysts forecast that Heritage Insurance will post 1.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, June 13th. Heritage Insurance’s payout ratio is 17.39%.
Heritage Insurance Company Profile
Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.
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