Zacks Investment Research upgraded shares of Heritage Insurance (NYSE:HRTG) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $20.00 price target on the insurance provider’s stock.

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 also recently weighed in on HRTG. TheStreet downgraded shares of Heritage Insurance from a b- rating to a c rating in a report on Friday, August 4th. BidaskClub raised shares of Heritage Insurance from a strong sell rating to a sell rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reissued a buy rating and set a $17.00 price objective on shares of Heritage Insurance in a report on Thursday, September 21st. SunTrust Banks reissued a buy rating and set a $18.00 price objective on shares of Heritage Insurance in a report on Tuesday, September 26th. Finally, Citigroup increased their price objective on shares of Heritage Insurance from $17.00 to $18.00 and gave the company a buy rating in a report on Tuesday, October 17th. Five investment analysts have rated the stock with a buy rating, Heritage Insurance presently has a consensus rating of Buy and a consensus target price of $18.50.

Heritage Insurance (NYSE:HRTG) opened at $18.00 on Tuesday. The firm has a market cap of $438.71, a price-to-earnings ratio of 1,798.00 and a beta of 1.49. 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 has a 1-year low of $8.85 and a 1-year high of $18.70.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 1st. The insurance provider reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.23). The firm had revenue of $101.77 million during the quarter, compared to the consensus estimate of $99.01 million. Heritage Insurance had a return on equity of 0.31% and a net margin of 0.27%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. analysts expect that Heritage Insurance will post 0.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, November 16th. Heritage Insurance’s dividend payout ratio (DPR) is presently 2,402.40%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its holdings in shares of Heritage Insurance by 94.2% during the 3rd quarter. California Public Employees Retirement System now owns 37,479 shares of the insurance provider’s stock valued at $495,000 after purchasing an additional 18,179 shares during the last quarter. Signia Capital Management LLC bought a new position in shares of Heritage Insurance during the 3rd quarter valued at about $4,339,000. Stifel Financial Corp boosted its holdings in shares of Heritage Insurance by 40.7% during the 3rd quarter. Stifel Financial Corp now owns 82,115 shares of the insurance provider’s stock valued at $1,083,000 after purchasing an additional 23,765 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Heritage Insurance by 2.9% during the 3rd quarter. Wells Fargo & Company MN now owns 451,507 shares of the insurance provider’s stock valued at $5,965,000 after buying an additional 12,651 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Heritage Insurance by 262.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 679,600 shares of the insurance provider’s stock valued at $8,944,000 after buying an additional 492,300 shares in the last quarter. 81.45% of the stock is owned by institutional investors and hedge funds.

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About Heritage Insurance

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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