Heritage Insurance Holdings Inc. (NYSE:HRTG) has been assigned a consensus rating of “Buy” from the six ratings firms that are covering the company. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.33.
A number of research firms have commented on HRTG. Citigroup Inc. dropped their price target on shares of Heritage Insurance Holdings from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. Zacks Investment Research raised shares of Heritage Insurance Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Sandler O’Neill raised shares of Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday, September 23rd. Finally, Keefe, Bruyette & Woods set a $17.00 price objective on shares of Heritage Insurance Holdings and gave the stock a “buy” rating in a research note on Tuesday, August 9th.
Heritage Insurance Holdings (NYSE:HRTG) traded up 4.92% during trading on Wednesday, reaching $12.80. 174,932 shares of the company’s stock were exchanged. The stock has a market capitalization of $380.16 million, a price-to-earnings ratio of 6.17 and a beta of 0.99. The company’s 50 day moving average price is $13.75 and its 200-day moving average price is $13.31. Heritage Insurance Holdings has a 52 week low of $11.50 and a 52 week high of $24.98.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. Heritage Insurance Holdings had a net margin of 15.06% and a return on equity of 17.73%. The company had revenue of $115.28 million for the quarter, compared to the consensus estimate of $113.73 million. During the same period in the previous year, the firm earned $0.84 EPS. Heritage Insurance Holdings’s revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that Heritage Insurance Holdings will post $1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, September 13th. Heritage Insurance Holdings’s dividend payout ratio (DPR) is currently 11.59%.
In related news, Director James Masiello purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was acquired at an average cost of $12.96 per share, for a total transaction of $259,200.00. Following the completion of the acquisition, the director now owns 229,795 shares in the company, valued at approximately $2,978,143.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Walvekar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Cutler Group LP bought a new stake in Heritage Insurance Holdings during the third quarter valued at approximately $146,000. Northwestern Mutual Wealth Management Co. bought a new stake in Heritage Insurance Holdings during the second quarter valued at approximately $279,000. Royal Bank of Canada boosted its stake in Heritage Insurance Holdings by 0.5% in the second quarter. Royal Bank of Canada now owns 41,770 shares of the company’s stock valued at $500,000 after buying an additional 198 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Heritage Insurance Holdings during the second quarter valued at approximately $730,000. Finally, AQR Capital Management LLC boosted its stake in Heritage Insurance Holdings by 24.2% in the second quarter. AQR Capital Management LLC now owns 402,911 shares of the company’s stock valued at $4,823,000 after buying an additional 78,612 shares in the last quarter. Institutional investors and hedge funds own 54.81% of the company’s stock.