Heritage Insurance Holdings Inc. (NYSE:HRTG) had its price objective cut by Citigroup Inc. from $17.00 to $16.00 in a research note issued to investors on Tuesday morning. They currently have a buy rating on the stock.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Heritage Insurance Holdings from a strong sell rating to a hold rating in a research note on Wednesday, October 5th. Sandler O’Neill raised 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 Heritage Insurance Holdings and gave the company a buy rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Heritage Insurance Holdings presently has an average rating of Buy and an average target price of $19.00.
Shares of Heritage Insurance Holdings (NYSE:HRTG) opened at 12.63 on Tuesday. The stock has a market cap of $375.11 million, a PE ratio of 6.09 and a beta of 0.98. The stock’s 50 day moving average price is $13.70 and its 200-day moving average price is $13.28. Heritage Insurance Holdings has a one year low of $11.50 and a one year high of $24.98.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The business earned $115.28 million during the quarter, compared to analyst estimates of $113.73 million. During the same quarter last year, the company posted $0.84 EPS. Heritage Insurance Holdings’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities analysts predict that Heritage Insurance Holdings will post $1.74 earnings per share for the current fiscal 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 dividend of $0.06 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.90%. Heritage Insurance Holdings’s payout ratio is currently 11.59%.
In related news, Director Vijay Walvekar sold 5,000 shares of Heritage Insurance Holdings stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Masiello acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average cost of $12.96 per share, with a total value of $259,200.00. Following the completion of the purchase, the director now owns 229,795 shares of the company’s stock, valued at $2,978,143.20. The disclosure for this purchase can be found here. Insiders own 15.10% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Oxford Asset Management boosted its position in Heritage Insurance Holdings by 176.3% in the second quarter. Oxford Asset Management now owns 232,916 shares of the company’s stock worth $2,788,000 after buying an additional 148,605 shares during the last quarter. Societe Generale bought a new stake in Heritage Insurance Holdings during the second quarter valued at about $1,410,000. SG Americas Securities LLC bought a new stake in Heritage Insurance Holdings during the second quarter valued at about $1,410,000. Ameriprise Financial Inc. raised its stake in Heritage Insurance Holdings by 15.1% in the second quarter. Ameriprise Financial Inc. now owns 887,354 shares of the company’s stock valued at $10,623,000 after buying an additional 116,196 shares during the last quarter. Finally, Columbia Partners L L C Investment Management bought a new stake in Heritage Insurance Holdings during the first quarter valued at about $1,570,000. 54.84% of the stock is owned by institutional investors and hedge funds.
About Heritage Insurance Holdings