Zacks Investment Research downgraded shares of Heritage Insurance (NYSE:HRTG) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

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. “

Other equities analysts have also recently issued reports about the stock. ValuEngine cut shares of Viewray from a buy rating to a hold rating in a report on Wednesday, April 24th. JMP Securities upgraded shares of Heritage Insurance from a market perform rating to an outperform rating and set a $19.00 price target on the stock in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $17.88.

Shares of Heritage Insurance stock traded up $0.08 on Wednesday, hitting $16.08. 89,385 shares of the company traded hands, compared to its average volume of 145,953. The stock’s 50-day moving average is $15.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.72 and a current ratio of 0.72. Heritage Insurance has a 12-month low of $12.85 and a 12-month high of $17.90. The company has a market cap of $484.71 million, a P/E ratio of 11.65 and a beta of 0.78.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Monday, May 6th. The insurance provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.05 by $0.16. Heritage Insurance had a net margin of 3.97% and a return on equity of 6.70%. The business had revenue of $118.26 million for the quarter, compared to analysts’ expectations of $117.24 million. Equities analysts expect that Heritage Insurance will post 1.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Friday, June 14th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Thursday, June 13th. Heritage Insurance’s payout ratio is presently 17.39%.

In other Heritage Insurance news, CFO Kirk Lusk acquired 5,000 shares of Heritage Insurance stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $14.33 per share, with a total value of $71,650.00. Following the purchase, the chief financial officer now owns 128,331 shares in the company, valued at $1,838,983.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.00% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Heritage Insurance by 1.6% in the 4th quarter. BlackRock Inc. now owns 1,569,009 shares of the insurance provider’s stock valued at $23,096,000 after purchasing an additional 25,036 shares during the last quarter. LSV Asset Management lifted its position in Heritage Insurance by 2.4% during the 1st quarter. LSV Asset Management now owns 1,220,250 shares of the insurance provider’s stock worth $17,815,000 after acquiring an additional 28,514 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Heritage Insurance by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 962,667 shares of the insurance provider’s stock worth $14,170,000 after acquiring an additional 43,451 shares during the last quarter. Phocas Financial Corp. lifted its position in Heritage Insurance by 37.4% during the 4th quarter. Phocas Financial Corp. now owns 883,781 shares of the insurance provider’s stock worth $13,009,000 after acquiring an additional 240,608 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. lifted its position in Heritage Insurance by 2.2% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 429,254 shares of the insurance provider’s stock worth $6,267,000 after acquiring an additional 9,342 shares during the last quarter. 64.28% of the stock is owned by institutional investors and hedge funds.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.

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