Heritage Insurance Holdings Inc Announces Quarterly Dividend of $0.06 (NYSE:HRTG)

Heritage Insurance Holdings Inc (NYSE:HRTG) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.06 per share by the insurance provider on Thursday, October 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, September 13th.

Heritage Insurance has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Heritage Insurance to earn $1.60 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 15.0%.

HRTG traded up $0.57 during trading hours on Wednesday, hitting $14.94. The stock had a trading volume of 4,802 shares, compared to its average volume of 143,375. Heritage Insurance has a 1 year low of $12.85 and a 1 year high of $16.95. The company’s fifty day simple moving average is $13.99 and its 200 day simple moving average is $14.62. The stock has a market cap of $421.86 million, a PE ratio of 10.80 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.30.

HRTG has been the subject of a number of research reports. Sandler O’Neill lowered shares of Heritage Insurance from a “buy” rating to a “hold” rating and cut their target price for the stock from $18.00 to $17.00 in a research report on Tuesday, July 16th. TheStreet downgraded shares of Heritage Insurance from a “b” rating to a “c+” rating in a research note on Friday, August 2nd. JMP Securities raised 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 research report on Tuesday, May 14th. Zacks Investment Research cut shares of Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, ValuEngine raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.38.

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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Dividend History for Heritage Insurance (NYSE:HRTG)

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