Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Heritage Insurance (HRTG) Stock Price
Media headlines about Heritage Insurance (NYSE:HRTG) have been trending somewhat positive this week, according to Accern Sentiment. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Heritage Insurance earned a news sentiment score of 0.08 on Accern’s scale. Accern also gave headlines about the insurance provider an impact score of 46.4295196666432 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:
- Insider Buying: Heritage Insurance Holdings (HRTG) Director Buys 1,000 Shares of Stock (americanbankingnews.com)
- Heritage Insurance (HRTG) Lifted to Buy at ValuEngine (americanbankingnews.com)
- Head-To-Head Survey: XL Capital Partners (XL) & Heritage Insurance (HRTG) (americanbankingnews.com)
- Bruce Lucas Acquires 3,000 Shares of Heritage Insurance Holdings (HRTG) Stock (americanbankingnews.com)
- Heritage Insurance Holdings’ (HRTG) CEO Bruce Lucas on Q1 2018 Results – Earnings Call Transcript (seekingalpha.com)
Heritage Insurance opened at $17.52 on Friday, according to Marketbeat.com. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $458.33 million, a PE ratio of 11.45 and a beta of 1.31. Heritage Insurance has a 52-week low of $16.96 and a 52-week high of $17.29.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 6th. Stockholders of record on Friday, June 15th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, June 14th. Heritage Insurance’s dividend payout ratio (DPR) is 15.69%.
HRTG has been the subject of a number of analyst reports. SunTrust Banks upped their price objective on shares of Heritage Insurance to $26.00 and gave the company a “buy” rating in a research note on Friday, March 9th. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Heritage Insurance and gave the company a “buy” rating in a research note on Friday, March 9th. ValuEngine raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. Citigroup reduced their price objective on shares of Heritage Insurance from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. Finally, Zacks Investment Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.80.
In related news, CEO Bruce Lucas purchased 3,000 shares of Heritage Insurance stock in a transaction dated Monday, May 14th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the chief executive officer now directly owns 984,873 shares of the company’s stock, valued at $16,604,958.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 10,200 shares of company stock valued at $166,832 over the last three months. 25.30% of the stock is owned by insiders.
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, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.
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