TheStreet Upgrades Heritage Insurance Holdings, Inc. (NYSE:HRTG) to “B”

TheStreet upgraded shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) from a c+ rating to a b rating in a research note issued to investors on Monday, October 16th.

Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of Heritage Insurance Holdings from a sell rating to a hold rating in a research report on Thursday, September 14th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $17.00 price objective on shares of Heritage Insurance Holdings in a research report on Thursday, September 21st. Citigroup Inc. boosted their price objective on shares of Heritage Insurance Holdings from $17.00 to $18.00 and gave the company a buy rating in a research report on Tuesday, October 17th. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $18.00 price objective on shares of Heritage Insurance Holdings in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of Heritage Insurance Holdings from a sell rating to a hold rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $17.67.

Shares of Heritage Insurance Holdings (HRTG) opened at 16.45 on Monday. Heritage Insurance Holdings has a 52-week low of $8.85 and a 52-week high of $16.64. The firm has a 50-day moving average price of $13.56 and a 200-day moving average price of $12.63. The firm has a market cap of $488.57 million, a price-to-earnings ratio of 23.20 and a beta of 1.36.

Heritage Insurance Holdings (NYSE:HRTG) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $100.17 million. Heritage Insurance Holdings had a net margin of 5.07% and a return on equity of 5.67%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Analysts predict that Heritage Insurance Holdings will post $0.73 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.46%. Heritage Insurance Holdings’s dividend payout ratio is presently 33.33%.

In other Heritage Insurance Holdings news, Director James Masiello bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $11.71 per share, for a total transaction of $117,100.00. Following the transaction, the director now directly owns 239,795 shares in the company, valued at approximately $2,807,999.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Richard A. Widdicombe bought 25,800 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $11.53 per share, for a total transaction of $297,474.00. Following the transaction, the president now owns 759,112 shares in the company, valued at $8,752,561.36. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 91,350 shares of company stock worth $1,051,923. 16.10% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL lifted its holdings in shares of Heritage Insurance Holdings by 0.3% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 36,900 shares of the insurance provider’s stock worth $480,000 after acquiring an additional 100 shares during the period. American International Group Inc. lifted its holdings in shares of Heritage Insurance Holdings by 7.0% during the 1st quarter. American International Group Inc. now owns 16,365 shares of the insurance provider’s stock worth $209,000 after acquiring an additional 1,077 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of Heritage Insurance Holdings by 18.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 14,082 shares of the insurance provider’s stock worth $183,000 after acquiring an additional 2,148 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Heritage Insurance Holdings by 16.9% during the 2nd quarter. Voya Investment Management LLC now owns 15,066 shares of the insurance provider’s stock worth $196,000 after acquiring an additional 2,181 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Heritage Insurance Holdings by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 197,271 shares of the insurance provider’s stock worth $2,568,000 after acquiring an additional 2,744 shares during the period. 60.56% of the stock is owned by institutional investors.

Heritage Insurance Holdings Company Profile

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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