Heritage Insurance Holdings Inc. (NYSE:HRTG) had its target price trimmed by Citigroup Inc. from $17.00 to $16.00 in a research report released on Tuesday. The firm currently has a buy rating on the stock.
A number of other brokerages have also commented on HRTG. Zacks Investment Research lowered Heritage Insurance Holdings from a hold rating to a sell rating in a report on Friday, August 5th. Sandler O’Neill raised 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. Finally, Keefe, Bruyette & Woods lowered their target price on Heritage Insurance Holdings from $22.00 to $18.00 and set a buy rating on the stock in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Heritage Insurance Holdings presently has a consensus rating of Buy and an average price target of $19.00.
Shares of Heritage Insurance Holdings (NYSE:HRTG) traded up 4.92% on Tuesday, reaching $12.80. The company had a trading volume of 158,041 shares. The firm has a market capitalization of $380.16 million, a PE ratio of 6.17 and a beta of 0.99. Heritage Insurance Holdings has a 12 month low of $11.50 and a 12 month high of $24.98. The company’s 50-day moving average is $13.75 and its 200 day moving average is $13.31.
Heritage Insurance Holdings (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. The business had revenue of $115.28 million for the quarter, compared to analyst estimates of $113.73 million. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities analysts forecast that Heritage Insurance Holdings will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, September 13th. Heritage Insurance Holdings’s dividend payout ratio (DPR) is currently 11.59%.
In other news, Director James Masiello acquired 20,000 shares of Heritage Insurance Holdings stock in a transaction on Monday, August 22nd. The stock was bought at an average price of $12.96 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Vijay Walvekar sold 5,000 shares of the firm’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 disclosure for this sale can be found here. 15.10% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Cutler Group LP purchased a new stake in shares of Heritage Insurance Holdings during the third quarter worth approximately $146,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Heritage Insurance Holdings during the second quarter worth approximately $279,000. Royal Bank of Canada increased its stake in shares of Heritage Insurance Holdings by 0.5% in the second quarter. Royal Bank of Canada now owns 41,770 shares of the company’s stock worth $500,000 after buying an additional 198 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Heritage Insurance Holdings during the second quarter worth approximately $730,000. Finally, AQR Capital Management LLC increased its stake in shares of Heritage Insurance Holdings by 24.2% in the second quarter. AQR Capital Management LLC now owns 402,911 shares of the company’s stock worth $4,823,000 after buying an additional 78,612 shares in the last quarter. 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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