New York State Common Retirement Fund boosted its holdings in shares of Heritage Insurance Holdings Inc (NYSE:HRTG) by 93.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,966 shares of the insurance provider’s stock after acquiring an additional 27,466 shares during the quarter. New York State Common Retirement Fund owned 0.23% of Heritage Insurance worth $753,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Heritage Insurance by 26.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 987,200 shares of the insurance provider’s stock valued at $12,853,000 after buying an additional 204,088 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Heritage Insurance by 3.6% during the 2nd 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 last quarter. State Street Corp grew its stake in Heritage Insurance by 6.3% during the 2nd quarter. State Street Corp now owns 484,242 shares of the insurance provider’s stock valued at $6,304,000 after purchasing an additional 28,728 shares during the last quarter. Kennedy Capital Management Inc. grew its stake in Heritage Insurance by 2,090.2% during the 2nd 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 last quarter. Finally, Royal Bank of Canada grew its stake in Heritage Insurance by 845.2% during the 2nd quarter. Royal Bank of Canada now owns 282,917 shares of the insurance provider’s stock valued at $3,683,000 after purchasing an additional 252,986 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.
Shares of Heritage Insurance Holdings Inc (NYSE HRTG) opened at $18.13 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $435.20, a price-to-earnings ratio of 1,814.81 and a beta of 1.49. Heritage Insurance Holdings Inc has a one year low of $8.85 and a one year high of $18.70.
Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.23). The firm had revenue of $101.77 million for the quarter, compared to analysts’ expectations of $99.01 million. Heritage Insurance had a return on equity of 0.31% and a net margin of 0.27%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. equities analysts expect that Heritage Insurance Holdings Inc will post 0.73 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.32%. Heritage Insurance’s dividend payout ratio (DPR) is presently 2,402.40%.
In other Heritage Insurance news, Director Nicholas George Pappas sold 2,850 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $17.90, for a total value of $51,015.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.10% of the stock is owned by company insiders.
HRTG has been the topic of a number of recent research reports. Citigroup upped their target price on Heritage Insurance from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BidaskClub upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 28th. TheStreet downgraded Heritage Insurance from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised Heritage Insurance from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, November 28th. Finally, SunTrust Banks reissued a “buy” rating and set a $18.00 target price on shares of Heritage Insurance in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Heritage Insurance currently has a consensus rating of “Buy” and a consensus price target of $19.50.
Heritage Insurance 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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