Heritage Insurance Holdings, Inc. (NYSE:HRTG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, July 4th.
According to Zacks, “Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company. Through its subsidiary, Heritage Property & Casualty Insurance Company, the Company provides personal residential insurance for single-family homeowners and condominium owners. Heritage Insurance Holdings, Inc. is based in Clearwater, Florida. “
A number of other equities analysts have also weighed in on HRTG. Citigroup Inc. reiterated a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of Heritage Insurance Holdings in a research report on Friday, April 7th. Keefe, Bruyette & Woods restated a “buy” rating and set a $17.00 price objective on shares of Heritage Insurance Holdings in a research report on Friday, June 2nd. Finally, TheStreet upgraded Heritage Insurance Holdings from a “c” rating to a “b-” rating in a research report on Monday, June 26th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Heritage Insurance Holdings currently has a consensus rating of “Buy” and an average price target of $16.33.
Heritage Insurance Holdings (HRTG) traded up 0.66% during mid-day trading on Tuesday, reaching $12.25. 89,322 shares of the company’s stock traded hands. The stock’s 50 day moving average is $12.70 and its 200-day moving average is $13.21. Heritage Insurance Holdings has a 52 week low of $11.25 and a 52 week high of $16.48. The stock has a market capitalization of $363.83 million, a PE ratio of 11.05 and a beta of 1.31.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. Heritage Insurance Holdings had a return on equity of 8.83% and a net margin of 7.60%. The business had revenue of $99.29 million during the quarter, compared to analyst estimates of $103.47 million. On average, equities analysts anticipate that Heritage Insurance Holdings will post $1.19 EPS for the current year.
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In related news, CEO Bruce Lucas acquired 83,262 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $12.06 per share, with a total value of $1,004,139.72. Following the purchase, the chief executive officer now owns 681,071 shares of the company’s stock, valued at $8,213,716.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in HRTG. Citadel Advisors LLC acquired a new stake in Heritage Insurance Holdings during the first quarter worth about $167,000. Trexquant Investment LP acquired a new stake in Heritage Insurance Holdings during the fourth quarter worth about $221,000. Kirr Marbach & Co. LLC IN raised its stake in Heritage Insurance Holdings by 1.2% in the first quarter. Kirr Marbach & Co. LLC IN now owns 14,295 shares of the insurance provider’s stock worth $183,000 after buying an additional 165 shares during the period. American International Group Inc. raised its stake in shares of Heritage Insurance Holdings by 7.0% in the first quarter. American International Group Inc. now owns 16,365 shares of the insurance provider’s stock valued at $209,000 after buying an additional 1,077 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new stake in shares of Heritage Insurance Holdings during the first quarter valued at $229,000. 58.56% of the stock is currently owned by hedge funds and other 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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