Keefe, Bruyette & Woods Analysts Give Heritage Insurance (HRTG) a $22.00 Price Target

Keefe, Bruyette & Woods set a $22.00 target price on Heritage Insurance (NYSE:HRTG) in a report released on Friday. The brokerage currently has a buy rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Heritage Insurance from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Tuesday, November 28th. ValuEngine raised Heritage Insurance from a hold rating to a buy rating in a report on Friday. Finally, JMP Securities lowered Heritage Insurance from an outperform rating to a market perform rating and set a $16.00 target price for the company. in a report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $20.60.

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Shares of Heritage Insurance (NYSE:HRTG) opened at $17.55 on Friday. 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 $466.13, a PE ratio of 13.19 and a beta of 1.27. Heritage Insurance has a fifty-two week low of $8.85 and a fifty-two week high of $19.15.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Wednesday, March 7th. The insurance provider reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.83. The firm had revenue of $108.62 million during the quarter, compared to analyst estimates of $101.35 million. Heritage Insurance had a positive return on equity of 9.99% and a negative net margin of 0.28%. Heritage Insurance’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. equities analysts anticipate that Heritage Insurance will post 2.6 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, March 14th. Heritage Insurance’s dividend payout ratio (DPR) is presently -300.00%.

In other news, Director Nicholas George Pappas sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $17.90, for a total transaction of $51,015.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.90% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC bought a new position in shares of Heritage Insurance during the fourth quarter valued at approximately $903,000. MetLife Investment Advisors LLC bought a new position in shares of Heritage Insurance during the fourth quarter valued at approximately $212,000. Macquarie Group Ltd. boosted its position in shares of Heritage Insurance by 23.8% during the fourth quarter. Macquarie Group Ltd. now owns 40,000 shares of the insurance provider’s stock worth $721,000 after buying an additional 7,700 shares during the period. Millennium Management LLC acquired a new position in shares of Heritage Insurance during the fourth quarter worth approximately $1,008,000. Finally, Paloma Partners Management Co acquired a new position in shares of Heritage Insurance during the fourth quarter worth approximately $411,000. 82.85% of the stock is owned by institutional investors.

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About Heritage Insurance

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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