Heritage Insurance Holdings, Inc. (HRTG) Raised to Hold at Zacks Investment Research
Heritage Insurance Holdings, Inc. (NYSE:HRTG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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. “
A number of other analysts have also recently commented on HRTG. TheStreet upgraded Heritage Insurance Holdings from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $17.00 target price on shares of Heritage Insurance Holdings in a research report on Friday, June 2nd. Finally, Citigroup Inc. restated a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of Heritage Insurance Holdings in a research report on Friday, April 7th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.33.
Heritage Insurance Holdings (NYSE HRTG) traded up 1.77% during trading on Tuesday, reaching $13.25. 53,924 shares of the company’s stock were exchanged. Heritage Insurance Holdings has a 12 month low of $11.25 and a 12 month high of $16.48. The stock has a market cap of $393.53 million, a PE ratio of 11.95 and a beta of 1.31. The firm has a 50 day moving average of $12.80 and a 200-day moving average of $13.68.
Heritage Insurance Holdings (NYSE:HRTG) last announced its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.19. The company had revenue of $99.29 million during the quarter, compared to the consensus estimate of $103.47 million. Heritage Insurance Holdings had a return on equity of 8.83% and a net margin of 7.60%. On average, equities research analysts anticipate that Heritage Insurance Holdings will post $1.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, June 13th. Heritage Insurance Holdings’s dividend payout ratio is presently 21.62%.
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In other news, CEO Bruce Lucas purchased 83,262 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average price of $12.06 per share, with a total value of $1,004,139.72. Following the purchase, the chief executive officer now directly owns 681,071 shares of the company’s stock, valued at $8,213,716.26. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.10% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in shares of Heritage Insurance Holdings during the first quarter valued at $167,000. Kirr Marbach & Co. LLC IN increased its position in shares of Heritage Insurance Holdings by 1.2% in the first quarter. Kirr Marbach & Co. LLC IN now owns 14,295 shares of the insurance provider’s stock valued at $183,000 after buying an additional 165 shares during the period. American International Group Inc. increased 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 valued at $209,000 after buying an additional 1,077 shares during the period. Trexquant Investment LP acquired a new position in shares of Heritage Insurance Holdings during the fourth quarter valued at $221,000. Finally, Kennedy Capital Management Inc. acquired a new position in shares of Heritage Insurance Holdings during the first quarter valued at $229,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.
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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