Heritage Insurance Holdings, Inc. Declares Quarterly Dividend of $0.06 (NYSE: HRTG)


Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Rating) announced a quarterly dividend on Thursday, May 5, Zacks reports. Shareholders of record on Tuesday, June 14 will receive a dividend of 0.06 per share from the insurer on Tuesday, July 5. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Monday, June 13.

Heritage Insurance has a dividend payout ratio of 23.1%, indicating that its dividend is sufficiently covered by earnings. Analysts expect Heritage Insurance to earn $0.63 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.24 with a future payout ratio. forecast of 38.1%.

HRTG opened at $3.72 on Friday. The company’s 50-day moving average is $6.10 and its 200-day moving average is $6.21. Heritage Insurance has a 1 year minimum of $3.55 and a 1 year maximum of $9.41. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt ratio of 0.35. The company has a market capitalization of $98.47 million, a P/E ratio of -1.01 and a beta of 0.80.

Heritage Insurance (NYSE:HRTG – Get Rating) last released its results on Thursday, May 5. The insurance provider reported ($1.15) EPS for the quarter, missing the consensus estimate of $0.13 per ($1.28). Heritage Insurance posted a negative return on equity of 3.56% and a negative net margin of 11.83%. In the same quarter last year, the company achieved EPS of ($0.19). On average, equity analysts expect Heritage Insurance to post -0.44 EPS for the current year.

A number of institutional investors have recently increased or reduced their stake in the company. Barclays PLC increased its stake in Heritage Insurance by 31.9% in the 4th quarter. Barclays PLC now owns 85,795 shares of the insurance provider worth $504,000 after buying a further 20,762 shares in the last quarter. Wells Fargo & Company MN increased its stake in Heritage Insurance by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 24,308 shares of the insurance provider worth $143,000 after buying 3,945 additional shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Heritage Insurance by 8.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 102,385 shares of the insurance provider worth $602,000 after buying an additional 7,592 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Heritage Insurance during the 4th quarter for a value of approximately $139,000. Finally, Marshall Wace LLP increased its stake in Heritage Insurance by 202.0% during the 4th quarter. Marshall Wace LLP now owns 225,794 shares of the insurance provider worth $1,327,000 after purchasing an additional 151,029 shares in the last quarter. Hedge funds and other institutional investors own 59.33% of the company’s shares.

Several research companies have recently commented on HRTG. Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Wednesday. StockNews.com downgraded the shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet downgraded shares of Heritage Insurance from a “c-” rating to a “d+” rating in a research report on Tuesday. Two research analysts gave the stock a hold rating and two gave the company a buy rating. Based on MarketBeat data, Heritage Insurance currently has an average rating of “Buy” and an average price target of $9.50.

Heritage Insurance Company Profile (Get a rating)

Heritage Insurance Holdings, Inc., through its subsidiaries, offers personal and commercial home insurance products. The company offers personal residential property insurance for single family homeowners and condominium owners, as well as rental property insurance in the states of Alabama, California, Connecticut, Delaware, Florida , Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey and New York; and licensed in the State of Pennsylvania, as well as residential property and personal wind insurance.

See also

Dividend history for Heritage Insurance (NYSE:HRTG)



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