Heritage Insurance Holdings Inc (NYSE:HRTG) has earned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $19.90.
Several equities analysts have recently issued reports on HRTG shares. Sandler O’Neill reaffirmed a “buy” rating and set a $19.00 price target on shares of Heritage Insurance in a research note on Friday, August 3rd. Zacks Investment Research lowered Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. ValuEngine lowered Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Finally, Citigroup cut their price target on Heritage Insurance from $17.00 to $16.50 and set a “buy” rating on the stock in a research note on Friday.
Shares of HRTG stock traded down $0.11 during trading hours on Monday, hitting $13.14. 141,500 shares of the company’s stock were exchanged, compared to its average volume of 195,887. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $393.76 million, a PE ratio of 8.59 and a beta of 1.21. Heritage Insurance has a 52 week low of $12.85 and a 52 week high of $19.15.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Saturday, September 15th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, September 13th. Heritage Insurance’s payout ratio is 15.69%.
In related news, CEO Bruce Lucas bought 7,000 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average price of $14.46 per share, with a total value of $101,220.00. Following the completion of the purchase, the chief executive officer now owns 991,873 shares of the company’s stock, valued at approximately $14,342,483.58. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven C. Martindale bought 2,039 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was bought at an average cost of $15.08 per share, for a total transaction of $30,748.12. The disclosure for this purchase can be found here. Insiders acquired 23,539 shares of company stock worth $343,123 in the last three months. Insiders own 25.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HRTG. Northpointe Capital LLC acquired a new position in Heritage Insurance in the second quarter valued at about $12,010,000. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Heritage Insurance during the second quarter worth about $11,011,000. Phocas Financial Corp. raised its position in shares of Heritage Insurance by 39.1% during the second quarter. Phocas Financial Corp. now owns 655,167 shares of the insurance provider’s stock worth $10,922,000 after purchasing an additional 184,161 shares during the period. Foundry Partners LLC raised its position in shares of Heritage Insurance by 58.8% during the second quarter. Foundry Partners LLC now owns 478,880 shares of the insurance provider’s stock worth $7,983,000 after purchasing an additional 177,280 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Heritage Insurance by 13.6% during the first quarter. JPMorgan Chase & Co. now owns 893,007 shares of the insurance provider’s stock worth $13,538,000 after purchasing an additional 107,202 shares during the period. 77.16% of the stock is currently owned by hedge funds and other institutional investors.
Heritage Insurance Company Profile
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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