Heritage Insurance (HRTG) to Release Quarterly Earnings on Wednesday

Heritage Insurance (NYSE:HRTG) is set to issue its quarterly earnings data after the market closes on Wednesday, October 31st. Analysts expect the company to announce earnings of $0.42 per share for the quarter.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Thursday, August 2nd. The insurance provider reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.55). The business had revenue of $117.97 million for the quarter, compared to analysts’ expectations of $114.94 million. Heritage Insurance had a net margin of 0.79% and a return on equity of 10.66%. On average, analysts expect Heritage Insurance to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of HRTG opened at $13.84 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $366.40 million, a P/E ratio of 9.05 and a beta of 1.21. Heritage Insurance has a 12 month low of $12.85 and a 12 month high of $19.15.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Saturday, September 15th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Thursday, September 13th. Heritage Insurance’s payout ratio is 15.69%.

HRTG has been the subject of a number of recent research reports. Sandler O’Neill reissued a “buy” rating and issued a $19.00 target price on shares of Heritage Insurance in a research report on Friday, August 3rd. Zacks Investment Research downgraded Heritage Insurance from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 9th. ValuEngine downgraded Heritage Insurance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Finally, Citigroup decreased their target price on Heritage Insurance from $17.00 to $16.50 and set a “buy” rating for the company in a research report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Heritage Insurance currently has an average rating of “Hold” and an average target price of $19.92.

In related news, CEO Bruce Lucas purchased 5,000 shares of Heritage Insurance stock in a transaction dated Thursday, August 23rd. The stock was bought at an average cost of $14.91 per share, for a total transaction of $74,550.00. Following the completion of the transaction, the chief executive officer now owns 996,873 shares in the company, valued at $14,863,376.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirk Lusk purchased 3,500 shares of Heritage Insurance stock in a transaction dated Friday, August 10th. The stock was bought at an average price of $14.31 per share, with a total value of $50,085.00. Following the completion of the transaction, the chief financial officer now owns 51,331 shares of the company’s stock, valued at approximately $734,546.61. The disclosure for this purchase can be found here. Insiders acquired 23,539 shares of company stock valued at $343,123 over the last three months. Company insiders own 25.30% of the company’s stock.

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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Earnings History for Heritage Insurance (NYSE:HRTG)

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