Analysts Set Heritage Insurance Holdings (HRTG) Price Target at $21.00

Heritage Insurance Holdings (NYSE:HRTG) has earned an average recommendation of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $21.00.

Several brokerages recently weighed in on HRTG. ValuEngine cut shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Keefe, Bruyette & Woods set a $22.00 price target on shares of Heritage Insurance and gave the stock a “buy” rating in a research report on Friday, March 9th. SunTrust Banks boosted their price target on shares of Heritage Insurance to $26.00 and gave the stock a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research cut shares of Heritage Insurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Finally, JMP Securities cut shares of Heritage Insurance from an “outperform” rating to a “market perform” rating and set a $16.00 price target on the stock. in a research report on Monday, January 22nd.

In other news, CEO Bruce Lucas acquired 6,200 shares of the business’s stock in a transaction on Friday, March 23rd. The shares were acquired at an average price of $16.06 per share, for a total transaction of $99,572.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of HRTG. California Public Employees Retirement System increased its position in Heritage Insurance by 94.2% during the third quarter. California Public Employees Retirement System now owns 37,479 shares of the insurance provider’s stock valued at $495,000 after acquiring an additional 18,179 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Heritage Insurance by 8.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 43,743 shares of the insurance provider’s stock valued at $789,000 after acquiring an additional 3,281 shares during the last quarter. GW&K Investment Management LLC increased its position in Heritage Insurance by 40.5% during the fourth quarter. GW&K Investment Management LLC now owns 157,448 shares of the insurance provider’s stock valued at $2,837,000 after acquiring an additional 45,367 shares during the last quarter. Northpointe Capital LLC bought a new position in Heritage Insurance during the fourth quarter valued at $13,251,000. Finally, Unison Advisors LLC bought a new position in Heritage Insurance during the fourth quarter valued at $311,000. Institutional investors and hedge funds own 84.11% of the company’s stock.

Heritage Insurance opened at $17.04 on Friday, MarketBeat reports. The company has a market cap of $452.75 million, a PE ratio of 10.20 and a beta of 1.31. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. Heritage Insurance has a 1 year low of $8.85 and a 1 year high of $19.15.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Monday, May 7th. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.13. The firm had revenue of $112.03 million for the quarter, compared to analysts’ expectations of $137.03 million. Heritage Insurance had a net margin of 1.84% and a return on equity of 12.00%. analysts anticipate that Heritage Insurance will post 2.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Friday, June 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, June 14th. Heritage Insurance’s dividend payout ratio (DPR) is 15.69%.

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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