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 research analysts have also recently issued reports on the company. Sandler O’Neill raised Heritage Insurance Holdings from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research note on Friday, September 23rd. Keefe, Bruyette & Woods set a $17.00 price objective on Heritage Insurance Holdings and gave the stock a buy rating in a research note 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 given a buy rating to the company. Heritage Insurance Holdings has an average rating of Buy and a consensus target price of $21.88.
Heritage Insurance Holdings (NYSE:HRTG) opened at 12.73 on Wednesday. The stock has a 50 day moving average price of $13.77 and a 200 day moving average price of $13.32. Heritage Insurance Holdings has a 1-year low of $11.50 and a 1-year high of $24.98. The stock has a market cap of $378.08 million, a PE ratio of 6.13 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, beating analysts’ consensus estimates of $0.55 by $0.07. The firm had revenue of $115.28 million for the quarter, compared to analysts’ expectations of $113.73 million. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, analysts predict that Heritage Insurance Holdings will post $1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.24 annualized dividend and a yield of 1.89%. Heritage Insurance Holdings’s dividend payout ratio (DPR) is presently 11.59%.
In related news, Director James Masiello bought 20,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were acquired at an average price of $12.96 per share, with a total value of $259,200.00. Following the transaction, the director now owns 229,795 shares of the company’s stock, valued at $2,978,143.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vijay Walvekar sold 5,000 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $13.90, for a total value of $69,500.00. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA bought a new stake in shares of Heritage Insurance Holdings during the first quarter valued at about $343,000. Prudential Financial Inc. acquired a new stake in shares of Heritage Insurance Holdings during the first quarter valued at approximately $433,000. Mckinley Capital Management LLC Delaware raised its stake in shares of Heritage Insurance Holdings by 89.2% in the first quarter. Mckinley Capital Management LLC Delaware now owns 201,800 shares of the company’s stock valued at $3,223,000 after buying an additional 95,159 shares in the last quarter. Columbia Partners L L C Investment Management acquired a new stake in shares of Heritage Insurance Holdings during the first quarter valued at approximately $1,570,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Heritage Insurance Holdings by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 49,608 shares of the company’s stock valued at $792,000 after buying an additional 3,597 shares in the last quarter. 54.81% of the stock is currently owned by institutional investors and hedge funds.
About Heritage Insurance Holdings
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Heritage Insurance Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Insurance Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.