Heritage Insurance (NYSE:HRTG) had its price objective cut by Citigroup from $17.00 to $16.50 in a report released on Friday. They currently have a buy rating on the insurance provider’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Heritage Insurance from a strong sell rating to a hold rating in a research report on Wednesday, October 3rd. Sandler O’Neill reissued a buy rating and issued a $19.00 price objective on shares of Heritage Insurance in a research report on Friday, August 3rd. Finally, ValuEngine lowered shares of Heritage Insurance from a hold rating to a sell rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $19.92.

Shares of HRTG stock traded down $0.42 during trading on Friday, reaching $13.25. The company’s stock had a trading volume of 304,220 shares, compared to its average volume of 196,162. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.46. The firm has a market cap of $393.76 million, a PE ratio of 8.66 and a beta of 1.21. Heritage Insurance has a one year low of $12.85 and a one year high of $19.15.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.55). The business had revenue of $117.97 million during the quarter, compared to the consensus estimate of $114.94 million. Heritage Insurance had a return on equity of 10.66% and a net margin of 0.79%. On average, equities analysts predict that Heritage Insurance will post 1.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Saturday, September 15th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, September 13th. Heritage Insurance’s dividend payout ratio (DPR) is currently 15.69%.

In related news, Director Steven C. Martindale acquired 2,039 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were bought at an average cost of $15.08 per share, with a total value of $30,748.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bruce Lucas acquired 7,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was bought at an average cost of $14.46 per share, for a total transaction of $101,220.00. Following the completion of the transaction, the chief executive officer now directly owns 991,873 shares of the company’s stock, valued at $14,342,483.58. The disclosure for this purchase can be found here. Insiders have acquired 23,539 shares of company stock worth $343,123 over the last ninety days. Insiders own 25.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Sun Life Financial INC bought a new position in shares of Heritage Insurance in the second quarter valued at about $178,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Heritage Insurance in the second quarter valued at about $245,000. A.R.T. Advisors LLC acquired a new position in shares of Heritage Insurance in the first quarter valued at about $287,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Heritage Insurance by 41.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,953 shares of the insurance provider’s stock valued at $318,000 after acquiring an additional 6,104 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Heritage Insurance by 18.0% in the second quarter. First Trust Advisors LP now owns 26,498 shares of the insurance provider’s stock valued at $442,000 after acquiring an additional 4,048 shares in the last quarter. 77.16% of the stock is currently owned by institutional investors.

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, 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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Analyst Recommendations for Heritage Insurance (NYSE:HRTG)

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