Heritage Insurance Holdings, Inc. (HRTG) Hits New 1-Year High at $17.43

Heritage Insurance Holdings, Inc. (NYSE:HRTG)’s share price hit a new 52-week high on Friday . The company traded as high as $17.43 and last traded at $16.63, with a volume of 490000 shares traded. The stock had previously closed at $17.00.

A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. TheStreet upgraded shares of Heritage Insurance Holdings from a “c+” rating to a “b” rating in a report on Monday, October 16th. Keefe, Bruyette & Woods restated a “buy” rating and set a $17.00 target price on shares of Heritage Insurance Holdings in a report on Thursday, September 21st. SunTrust Banks, Inc. restated a “buy” rating and set a $18.00 target price on shares of Heritage Insurance Holdings in a report on Tuesday, September 26th. Finally, Citigroup Inc. boosted their target price on shares of Heritage Insurance Holdings from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Heritage Insurance Holdings presently has an average rating of “Buy” and a consensus target price of $18.00.

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $425.29, a PE ratio of 1,743.00 and a beta of 1.44.

Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.23). Heritage Insurance Holdings had a return on equity of 0.31% and a net margin of 0.27%. The company had revenue of $101.77 million for the quarter, compared to the consensus estimate of $99.01 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. research analysts anticipate that Heritage Insurance Holdings, Inc. will post 0.73 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. Heritage Insurance Holdings’s dividend payout ratio (DPR) is 2,402.40%.

In related news, President Richard A. Widdicombe acquired 16,500 shares of Heritage Insurance Holdings stock in a transaction on Friday, August 25th. The stock was purchased at an average cost of $11.32 per share, with a total value of $186,780.00. Following the completion of the transaction, the president now directly owns 775,612 shares in the company, valued at approximately $8,779,927.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 21,550 shares of company stock valued at $243,389. Company insiders own 16.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its position in Heritage Insurance Holdings by 94.2% during the third quarter. California Public Employees Retirement System now owns 37,479 shares of the insurance provider’s stock worth $495,000 after purchasing an additional 18,179 shares during the period. Signia Capital Management LLC bought a new stake in shares of Heritage Insurance Holdings in the third quarter valued at about $4,339,000. Stifel Financial Corp boosted its position in shares of Heritage Insurance Holdings by 40.7% in the third quarter. Stifel Financial Corp now owns 82,115 shares of the insurance provider’s stock valued at $1,083,000 after acquiring an additional 23,765 shares during the period. Wells Fargo & Company MN boosted its position in shares of Heritage Insurance Holdings by 2.9% in the third quarter. Wells Fargo & Company MN now owns 451,507 shares of the insurance provider’s stock valued at $5,965,000 after acquiring an additional 12,651 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Heritage Insurance Holdings by 262.8% in the third quarter. JPMorgan Chase & Co. now owns 679,600 shares of the insurance provider’s stock valued at $8,944,000 after acquiring an additional 492,300 shares during the period. 71.65% of the stock is owned by hedge funds and other institutional investors.

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About Heritage Insurance Holdings

Heritage Insurance Holdings, Inc (Heritage Insurance) is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company (Heritage P&C), it provides personal residential insurance for single-family homeowners and condominium owners, rental property insurance and commercial residential insurance in the state of Florida and North Carolina.

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