Macquarie Group Ltd. increased its holdings in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the insurance provider’s stock after purchasing an additional 7,700 shares during the quarter. Macquarie Group Ltd. owned approximately 0.15% of Heritage Insurance worth $721,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HRTG. Millennium Management LLC purchased a new stake in Heritage Insurance in the fourth quarter valued at approximately $1,008,000. Paloma Partners Management Co purchased a new stake in Heritage Insurance in the fourth quarter valued at approximately $411,000. Ellington Management Group LLC purchased a new stake in Heritage Insurance in the fourth quarter valued at approximately $218,000. Goldman Sachs Group Inc. lifted its stake in Heritage Insurance by 340.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,119 shares of the insurance provider’s stock valued at $1,444,000 after buying an additional 61,933 shares during the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new stake in Heritage Insurance in the fourth quarter valued at approximately $732,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.
HRTG has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of Heritage Insurance in a research note on Friday, December 22nd. Zacks Investment Research cut Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. JMP Securities cut Heritage Insurance from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a research note on Monday, January 22nd. ValuEngine raised Heritage Insurance from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Finally, SunTrust Banks boosted their target price on Heritage Insurance to $26.00 and gave the company a “buy” rating in a report on Friday, March 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.60.
NYSE:HRTG opened at $16.04 on Monday. The company has a market capitalization of $426.02, a PE ratio of 10.48 and a beta of 1.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.49. Heritage Insurance Holdings Inc has a 12-month low of $8.85 and a 12-month high of $19.15.
Heritage Insurance (NYSE:HRTG) last released its earnings results on Wednesday, March 7th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.83. The business had revenue of $108.62 million for the quarter, compared to analyst estimates of $101.35 million. Heritage Insurance had a positive return on equity of 9.72% and a negative net margin of 0.28%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. equities analysts predict that Heritage Insurance Holdings Inc will post 2.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, March 14th. Heritage Insurance’s payout ratio is currently 15.69%.
In related news, CEO Bruce Lucas bought 6,200 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were acquired at an average price of $16.06 per share, with a total value of $99,572.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.10% of the company’s stock.
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Heritage Insurance 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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