Heritage Insurance Holdings, Inc. (HRTG) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Heritage Insurance Holdings, Inc. (NYSE:HRTG)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a research note issued to investors on Wednesday. They presently have a $18.00 price objective on the insurance provider’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 12.22% from the stock’s current price.
HRTG has been the subject of several other reports. BidaskClub upgraded Heritage Insurance Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Heritage Insurance Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. TheStreet upgraded Heritage Insurance Holdings from a “c+” rating to a “b” rating in a research note on Monday, October 16th. Citigroup Inc. raised their price objective on Heritage Insurance Holdings from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $17.00 price objective on shares of Heritage Insurance Holdings in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.67.
Shares of Heritage Insurance Holdings (NYSE HRTG) traded down 1.43% during trading on Wednesday, reaching $15.81. The company’s stock had a trading volume of 438,557 shares. The stock has a market capitalization of $469.56 million, a PE ratio of 22.30 and a beta of 1.36. Heritage Insurance Holdings has a 12-month low of $8.85 and a 12-month high of $16.64. The firm’s 50-day moving average is $14.26 and its 200-day moving average is $12.76.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Heritage Insurance Holdings had a return on equity of 5.67% and a net margin of 5.07%. The company had revenue of $96.90 million during the quarter, compared to analysts’ expectations of $100.17 million. During the same period last year, the business posted $0.62 earnings per share. The firm’s revenue was down 15.9% compared to the same quarter last year. Equities analysts expect that Heritage Insurance Holdings will post $0.73 earnings per share for the current year.
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In related news, President Richard A. Widdicombe bought 16,500 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $11.32 per share, with a total value of $186,780.00. Following the completion of the acquisition, the president now directly owns 775,612 shares in the company, valued at $8,779,927.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Richard A. Widdicombe bought 25,800 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $11.53 per share, for a total transaction of $297,474.00. Following the completion of the acquisition, the president now owns 759,112 shares of the company’s stock, valued at $8,752,561.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 91,350 shares of company stock worth $1,051,923. 16.10% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Royce & Associates LP grew its holdings in Heritage Insurance Holdings by 2.8% during the second quarter. Royce & Associates LP now owns 630,700 shares of the insurance provider’s stock worth $8,212,000 after acquiring an additional 17,200 shares during the period. Ameriprise Financial Inc. grew its holdings in Heritage Insurance Holdings by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 863,752 shares of the insurance provider’s stock valued at $11,247,000 after purchasing an additional 29,740 shares during the period. Kennedy Capital Management Inc. grew its holdings in Heritage Insurance Holdings by 2,090.2% in the second quarter. Kennedy Capital Management Inc. now owns 392,052 shares of the insurance provider’s stock valued at $5,105,000 after purchasing an additional 374,152 shares during the period. Alliancebernstein L.P. grew its holdings in Heritage Insurance Holdings by 36.9% in the first quarter. Alliancebernstein L.P. now owns 213,560 shares of the insurance provider’s stock valued at $2,727,000 after purchasing an additional 57,580 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Heritage Insurance Holdings by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 194,527 shares of the insurance provider’s stock valued at $2,484,000 after purchasing an additional 15,789 shares during the period. 60.72% 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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