Heritage Insurance Inc (NYSE:HRTG – Get Rating) released its quarterly results on Thursday. The insurance provider reported ($1.15) earnings per share for the quarter, missing the consensus estimate of $0.13 per ($1.28), MarketWatch Earnings reports. Heritage Insurance posted a negative return on equity of 3.56% and a negative net margin of 11.83%. In the same quarter of the previous year, the company achieved EPS of ($0.19).
Shares of HRTG were down $0.24 during Friday trading hours, hitting $3.72. 517,024 shares of the company were traded, against an average volume of 231,284. The company has a fifty-day simple moving average of $6.10 and a 200-day simple moving average of $6.21. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt ratio of 0.35. Heritage Insurance has a 52-week minimum of $3.55 and a 52-week maximum of $9.41. The stock has a market capitalization of $98.47 million, a price-earnings ratio of -1.01 and a beta of 0.80.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 5. Shareholders of record on Tuesday, June 14 will receive a dividend of $0.06 per share. The ex-dividend date is Monday, June 13. This represents an annualized dividend of $0.24 and a dividend yield of 6.45%. Heritage Insurance’s payout ratio is currently -6.54%.
Several research firms have commented on HRTG. StockNews.com downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet downgraded shares of Heritage Insurance from a “c-” rating to a “d+” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded Heritage Insurance shares from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus buy rating and a consensus target price of $9.50.
Several hedge funds have recently changed their holdings in HRTG. Marshall Wace LLP increased its stake in the shares of 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. Renaissance Technologies LLC increased its stake in Heritage Insurance by 47.5% in the 4th quarter. Renaissance Technologies LLC now owns 458,199 shares of the insurance provider valued at $2,694,000 after buying an additional 147,468 shares last quarter. Millennium Management LLC increased its stake in Heritage Insurance by 526.0% in the third quarter. Millennium Management LLC now owns 116,789 shares of the insurance provider valued at $795,000 after buying an additional 98,134 shares last quarter. Morgan Stanley increased its stake in Heritage Insurance by 572.2% in the second quarter. Morgan Stanley now owns 71,528 shares of the insurance provider valued at $614,000 after buying an additional 60,887 shares last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Heritage Insurance by 297.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 56,454 shares of the insurance provider valued at $332,000 after purchasing an additional 42,243 shares last quarter. Institutional investors hold 59.33% of the company’s shares.
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.
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