Heritage Insurance Holdings Inc (HRTG) to Issue Quarterly Dividend of $0.06
Heritage Insurance Holdings Inc (NYSE:HRTG) declared a quarterly dividend on Thursday, November 1st, Wall Street Journal reports. Stockholders of record on Saturday, December 15th will be paid a dividend of 0.06 per share by the insurance provider on Friday, January 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 13th.
Heritage Insurance has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Heritage Insurance to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 12.3%.
Shares of HRTG opened at $15.11 on Friday. Heritage Insurance has a one year low of $12.85 and a one year high of $19.15. The stock has a market capitalization of $413.90 million, a PE ratio of 9.88 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.46.
In related news, CEO Bruce Lucas bought 5,000 shares of Heritage Insurance stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average price of $16.05 per share, with a total value of $80,250.00. Following the acquisition, the chief executive officer now owns 1,001,873 shares of the company’s stock, valued at approximately $16,080,061.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 24,182 shares of company stock valued at $390,958 in the last ninety days. 25.30% of the stock is currently owned by insiders.
A number of research analysts have recently commented on the stock. Citigroup decreased their price objective on shares of Heritage Insurance from $17.00 to $16.50 and set a “buy” rating for the company in a research report on Friday, October 12th. Zacks Investment Research raised shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 3rd. TheStreet raised shares of Heritage Insurance from a “c+” rating to a “b” rating in a report on Thursday, November 15th. Finally, ValuEngine raised shares of Heritage Insurance from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.92.
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Heritage Insurance Company Profile
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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