Heritage Insurance Holdings Inc (NYSE:HRTG) has been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.75.

HRTG has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Heritage Insurance from a “c+” rating to a “b” rating in a report on Thursday, November 15th. Zacks Investment Research upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, December 26th.

In related news, CEO Bruce Lucas bought 1,806 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $13.92 per share, for a total transaction of $25,139.52. Following the purchase, the chief executive officer now owns 946,859 shares in the company, valued at $13,180,277.28. The acquisition was disclosed in a filing with the SEC, which is available through this link. 25.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in HRTG. Victory Capital Management Inc. raised its stake in Heritage Insurance by 56.4% during the 3rd quarter. Victory Capital Management Inc. now owns 107,000 shares of the insurance provider’s stock valued at $1,585,000 after buying an additional 38,565 shares during the last quarter. LSV Asset Management raised its stake in Heritage Insurance by 6.9% during the 3rd quarter. LSV Asset Management now owns 953,032 shares of the insurance provider’s stock valued at $14,123,000 after buying an additional 61,502 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Heritage Insurance by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 934,894 shares of the insurance provider’s stock valued at $13,855,000 after buying an additional 9,982 shares during the last quarter. Prudential Financial Inc. raised its stake in Heritage Insurance by 49.1% during the 3rd quarter. Prudential Financial Inc. now owns 32,590 shares of the insurance provider’s stock valued at $483,000 after buying an additional 10,730 shares during the last quarter. Finally, Credit Suisse AG raised its stake in Heritage Insurance by 65.3% during the 3rd quarter. Credit Suisse AG now owns 1,040,166 shares of the insurance provider’s stock valued at $15,416,000 after buying an additional 410,919 shares during the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

NYSE HRTG traded up $0.24 during mid-day trading on Thursday, reaching $14.73. The stock had a trading volume of 88,016 shares, compared to its average volume of 139,997. Heritage Insurance has a 1 year low of $12.85 and a 1 year high of $17.99. The firm has a market cap of $391.82 million, a P/E ratio of 10.67 and a beta of 1.02. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.46.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.63%. Heritage Insurance’s dividend payout ratio is presently 17.39%.

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.

Further Reading: Cost of Debt

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