Heritage Insurance Holdings Inc. (HRTG) Director Sells $69,500.00 in Stock
Heritage Insurance Holdings Inc. (NYSE:HRTG) Director Vijay Walvekar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Heritage Insurance Holdings Inc. (NYSE:HRTG) opened at 13.20 on Friday. Heritage Insurance Holdings Inc. has a 12 month low of $11.50 and a 12 month high of $24.98. The company has a market cap of $392.04 million, a PE ratio of 6.36 and a beta of 0.99. The company has a 50-day moving average of $13.78 and a 200 day moving average of $13.38.
Heritage Insurance Holdings (NYSE:HRTG) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. Heritage Insurance Holdings had a return on equity of 17.73% and a net margin of 15.06%. The business had revenue of $115.28 million for the quarter, compared to analyst estimates of $113.73 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, analysts anticipate that Heritage Insurance Holdings Inc. will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.82%. Heritage Insurance Holdings’s dividend payout ratio (DPR) is 11.59%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Heritage Insurance Holdings during the second quarter worth about $279,000. Royal Bank of Canada raised its position in shares of Heritage Insurance Holdings by 0.5% in the second quarter. Royal Bank of Canada now owns 41,770 shares of the company’s stock worth $500,000 after buying an additional 198 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Heritage Insurance Holdings during the second quarter worth about $730,000. AQR Capital Management LLC raised its position in shares of Heritage Insurance Holdings by 24.2% in the second quarter. AQR Capital Management LLC now owns 402,911 shares of the company’s stock worth $4,823,000 after buying an additional 78,612 shares during the period. Finally, Menta Capital LLC raised its position in shares of Heritage Insurance Holdings by 56.9% in the second quarter. Menta Capital LLC now owns 104,706 shares of the company’s stock worth $1,253,000 after buying an additional 37,952 shares during the period. Hedge funds and other institutional investors own 54.81% of the company’s stock.
Several research firms have recently issued reports on HRTG. Sandler O’Neill upgraded shares of Heritage Insurance Holdings from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, September 23rd. Keefe, Bruyette & Woods set a $17.00 price objective on shares of Heritage Insurance Holdings and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Zacks Investment Research upgraded shares of Heritage Insurance Holdings from a “strong sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Heritage Insurance Holdings presently has an average rating of “Buy” and a consensus price target of $21.88.
Heritage Insurance Holdings Company Profile
Heritage Insurance Holdings, Inc is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company, 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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