Heritage Insurance Holdings Inc. (NYSE:HRTG) Director Vijay Walvekar sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total value of $69,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Heritage Insurance Holdings Inc. (NYSE:HRTG) opened at 13.20 on Friday. The company has a market capitalization of $392.04 million, a PE ratio of 6.36 and a beta of 0.99. The stock has a 50 day moving average price of $13.78 and a 200-day moving average price of $13.38. Heritage Insurance Holdings Inc. has a 12 month low of $11.50 and a 12 month high of $24.98.
Heritage Insurance Holdings (NYSE:HRTG) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The business earned $115.28 million during the quarter, compared to the consensus estimate of $113.73 million. Heritage Insurance Holdings had a net margin of 15.06% and a return on equity of 17.73%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Analysts forecast that Heritage Insurance Holdings Inc. will post $1.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, September 13th. Heritage Insurance Holdings’s payout ratio is currently 11.59%.
A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods set a $17.00 target price on Heritage Insurance Holdings and gave the stock a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research downgraded Heritage Insurance Holdings from a “hold” rating to a “sell” rating in a report on Friday, August 5th. Finally, Sandler O’Neill upgraded Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.88.
Hedge funds have recently made changes to their positions in the company. Trexquant Investment LP purchased a new stake in shares of Heritage Insurance Holdings during the second quarter valued at about $121,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Heritage Insurance Holdings during the second quarter valued at about $130,000. JPMorgan Chase & Co. purchased a new stake in shares of Heritage Insurance Holdings during the second quarter valued at about $160,000. Ancora Advisors LLC purchased a new stake in shares of Heritage Insurance Holdings during the second quarter valued at about $180,000. Finally, American International Group Inc. increased its stake in shares of Heritage Insurance Holdings by 5.8% in the second quarter. American International Group Inc. now owns 15,305 shares of the company’s stock valued at $183,000 after buying an additional 839 shares during the last quarter. 54.81% of the stock is owned by institutional investors and hedge funds.
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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