Rothschild Asset Management Inc. decreased its holdings in shares of Heritage Insurance Holdings (NYSE:HRTG) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,034 shares of the insurance provider’s stock after selling 14,092 shares during the quarter. Rothschild Asset Management Inc.’s holdings in Heritage Insurance were worth $6,125,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in HRTG. Northpointe Capital LLC purchased a new stake in Heritage Insurance during the fourth quarter valued at $13,251,000. Foundry Partners LLC purchased a new stake in Heritage Insurance during the fourth quarter valued at $5,364,000. Royce & Associates LP raised its stake in Heritage Insurance by 32.3% during the fourth quarter. Royce & Associates LP now owns 659,200 shares of the insurance provider’s stock valued at $11,879,000 after purchasing an additional 161,000 shares in the last quarter. Gillson Capital LP raised its stake in Heritage Insurance by 234.5% during the fourth quarter. Gillson Capital LP now owns 209,679 shares of the insurance provider’s stock valued at $3,778,000 after purchasing an additional 146,993 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its stake in Heritage Insurance by 91.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 289,738 shares of the insurance provider’s stock valued at $5,222,000 after purchasing an additional 138,588 shares in the last quarter. 79.40% of the stock is currently owned by institutional investors.
Heritage Insurance opened at $17.51 on Monday, MarketBeat reports. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. Heritage Insurance Holdings has a twelve month low of $8.85 and a twelve month high of $19.15. The firm has a market cap of $465.24 million, a price-to-earnings ratio of 10.48 and a beta of 1.31.
Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Monday, May 7th. The insurance provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.13. Heritage Insurance had a net margin of 1.84% and a return on equity of 12.00%. The business had revenue of $112.03 million for the quarter, compared to analysts’ expectations of $137.03 million. analysts anticipate that Heritage Insurance Holdings will post 2.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Friday, June 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, June 14th. Heritage Insurance’s dividend payout ratio (DPR) is 15.69%.
A number of equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Heritage Insurance and gave the company a “buy” rating in a research report on Friday, March 9th. JMP Securities cut shares of Heritage Insurance from an “outperform” rating to a “market perform” rating and set a $16.00 price objective on the stock. in a research report on Monday, January 22nd. Finally, Citigroup cut their price objective on shares of Heritage Insurance from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.80.
In other news, CEO Bruce Lucas acquired 3,000 shares of the business’s stock in a transaction on Monday, May 14th. The shares were acquired at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the chief executive officer now directly owns 984,873 shares of the company’s stock, valued at approximately $16,604,958.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 10,200 shares of company stock worth $166,832 in the last quarter. Company insiders own 25.30% of the company’s stock.
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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