Heritage Insurance Holdings, Inc. (HRTG) Receives Consensus Rating of “Buy” from Analysts
Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.00.
A number of equities research analysts have commented on HRTG shares. TheStreet upgraded Heritage Insurance Holdings from a “c+” rating to a “b” rating in a research note on Monday, October 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $17.00 price target on shares of Heritage Insurance Holdings in a research note on Thursday, September 21st. BidaskClub cut Heritage Insurance Holdings from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Citigroup Inc. increased their price target on Heritage Insurance Holdings from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $18.00 price target on shares of Heritage Insurance Holdings in a research note on Tuesday, September 26th.
In related news, President Richard A. Widdicombe bought 16,500 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $11.32 per share, with a total value of $186,780.00. Following the completion of the acquisition, the president now directly owns 775,612 shares in the company, valued at $8,779,927.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 21,550 shares of company stock worth $243,389 over the last three months. Corporate insiders own 16.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of HRTG. Balyasny Asset Management LLC grew its holdings in Heritage Insurance Holdings by 18.0% in the second quarter. Balyasny Asset Management LLC now owns 14,082 shares of the insurance provider’s stock valued at $183,000 after purchasing an additional 2,148 shares during the period. Voya Investment Management LLC grew its holdings in Heritage Insurance Holdings by 16.9% in the second quarter. Voya Investment Management LLC now owns 15,066 shares of the insurance provider’s stock valued at $196,000 after purchasing an additional 2,181 shares during the period. American International Group Inc. grew its holdings in 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 purchasing an additional 1,077 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Heritage Insurance Holdings by 69.1% in the first quarter. UBS Asset Management Americas Inc. now owns 18,600 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 7,600 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in Heritage Insurance Holdings in the second quarter valued at approximately $251,000. 71.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Heritage Insurance Holdings (NYSE HRTG) opened at $16.63 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.63. Heritage Insurance Holdings has a 12 month low of $8.85 and a 12 month high of $17.31. The company has a market capitalization of $405.29, a PE ratio of 1,674.00 and a beta of 1.44.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.23). Heritage Insurance Holdings had a net margin of 0.27% and a return on equity of 0.31%. The business had revenue of $101.77 million during the quarter, compared to analysts’ expectations of $99.01 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. equities research analysts predict that Heritage Insurance Holdings will post 0.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, November 16th. Heritage Insurance Holdings’s dividend payout ratio is presently 2,400.00%.
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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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