Swiss National Bank lifted its stake in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 11.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,500 shares of the insurance provider’s stock after purchasing an additional 4,600 shares during the period. Swiss National Bank owned approximately 0.15% of Heritage Insurance worth $686,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in Heritage Insurance during the second quarter valued at $955,000. Pacific Ridge Capital Partners LLC increased its position in Heritage Insurance by 15.2% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 427,846 shares of the insurance provider’s stock worth $6,247,000 after purchasing an additional 56,410 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Heritage Insurance by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 962,667 shares of the insurance provider’s stock worth $14,170,000 after purchasing an additional 43,451 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in Heritage Insurance in the 1st quarter worth about $604,000. Finally, LSV Asset Management increased its position in Heritage Insurance by 2.4% in the 1st quarter. LSV Asset Management now owns 1,220,250 shares of the insurance provider’s stock worth $17,815,000 after purchasing an additional 28,514 shares during the last quarter. 67.45% of the stock is currently owned by institutional investors.
HRTG traded down $0.25 during mid-day trading on Friday, reaching $15.00. The stock had a trading volume of 4,001 shares, compared to its average volume of 159,497. The stock has a market capitalization of $429.02 million, a P/E ratio of 10.85 and a beta of 0.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s fifty day simple moving average is $14.01 and its two-hundred day simple moving average is $14.62. Heritage Insurance Holdings Inc has a 52 week low of $12.85 and a 52 week high of $16.95.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a $0.06 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.60%. Heritage Insurance’s dividend payout ratio is currently 17.39%.
Several analysts have recently issued reports on the company. Sandler O’Neill downgraded Heritage Insurance from a “buy” rating to a “hold” rating and decreased their price target for the stock from $18.00 to $17.00 in a research note on Tuesday, July 16th. Zacks Investment Research downgraded Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. ValuEngine upgraded Heritage Insurance from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, TheStreet downgraded Heritage Insurance from a “b” rating to a “c+” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Heritage Insurance currently has an average rating of “Hold” and a consensus target price of $17.38.
About Heritage Insurance
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 in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.
Further Reading: Overbought
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