Heritage Insurance Holdings, Inc. (NYSE:HRTG) – Analysts at Piper Sandler lowered their Q4 2020 earnings estimates for shares of Heritage Insurance in a research report issued to clients and investors on Friday, October 16th. Piper Sandler analyst P. Newsome now anticipates that the insurance provider will earn $0.47 per share for the quarter, down from their previous forecast of $0.49. Piper Sandler also issued estimates for Heritage Insurance’s Q1 2021 earnings at $0.41 EPS, Q2 2021 earnings at $0.35 EPS, Q3 2021 earnings at $0.42 EPS and FY2021 earnings at $1.70 EPS.
Other analysts have also issued reports about the company. Sidoti assumed coverage on Heritage Insurance in a research note on Friday, October 9th. They issued a “buy” rating on the stock. TheStreet lowered Heritage Insurance from a “b-” rating to a “c+” rating in a research note on Tuesday, September 29th. Finally, Zacks Investment Research lowered Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.
Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Monday, August 3rd. The insurance provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.18). The business had revenue of $136.01 million during the quarter, compared to analysts’ expectations of $131.43 million. Heritage Insurance had a return on equity of 7.24% and a net margin of 6.07%.
Large investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Heritage Insurance during the 2nd quarter valued at $34,000. US Bancorp DE bought a new stake in shares of Heritage Insurance during the 2nd quarter valued at $55,000. BNP Paribas Arbitrage SA raised its stake in shares of Heritage Insurance by 33.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,096 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 2,022 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Heritage Insurance during the 2nd quarter valued at $138,000. Finally, WINTON GROUP Ltd purchased a new position in Heritage Insurance during the second quarter worth about $148,000. Institutional investors own 67.43% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.24%. Heritage Insurance’s payout ratio is 25.26%.
About Heritage Insurance
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 in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property and multi-peril property insurance.
See Also: Consumer Price Index (CPI)
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