Steven C. Martindale Acquires 1,002 Shares of Heritage Insurance Holdings Inc (HRTG) Stock

Heritage Insurance Holdings Inc (NYSE:HRTG) Director Steven C. Martindale bought 1,002 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average cost of $16.21 per share, for a total transaction of $16,242.42. Following the completion of the acquisition, the director now owns 12,673 shares in the company, valued at approximately $205,429.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Heritage Insurance stock traded down $0.55 during trading hours on Friday, hitting $16.31. The company had a trading volume of 3,171 shares, compared to its average volume of 174,867. The stock has a market cap of $440.00 million, a P/E ratio of 10.82 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.46. Heritage Insurance Holdings Inc has a one year low of $12.85 and a one year high of $19.15.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.36. The firm had revenue of $125.30 million for the quarter, compared to analysts’ expectations of $123.59 million. Heritage Insurance had a net margin of 3.92% and a return on equity of 13.90%. Equities analysts anticipate that Heritage Insurance Holdings Inc will post 1.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Saturday, December 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.24 annualized dividend and a yield of 1.47%. Heritage Insurance’s dividend payout ratio is currently 15.69%.

Institutional investors have recently added to or reduced their stakes in the business. Sun Life Financial INC bought a new position in Heritage Insurance in the 2nd quarter valued at about $178,000. Quantitative Systematic Strategies LLC bought a new position in Heritage Insurance in the 2nd quarter valued at about $245,000. First Trust Advisors LP raised its holdings in Heritage Insurance by 18.0% in the 2nd quarter. First Trust Advisors LP now owns 26,498 shares of the insurance provider’s stock valued at $442,000 after acquiring an additional 4,048 shares during the period. State Board of Administration of Florida Retirement System bought a new position in Heritage Insurance in the 2nd quarter valued at about $519,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Heritage Insurance during the second quarter worth approximately $521,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on HRTG. Citigroup dropped their target price on shares of Heritage Insurance from $17.00 to $16.50 and set a “buy” rating on the stock in a report on Friday, October 12th. Zacks Investment Research raised shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Sandler O’Neill reaffirmed a “buy” rating and issued a $19.00 target price on shares of Heritage Insurance in a report on Friday, August 3rd. Finally, ValuEngine cut shares of Heritage Insurance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Heritage Insurance currently has an average rating of “Buy” and an average price target of $19.92.

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Heritage Insurance Company Profile

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, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.

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