Wall Street analysts forecast that Heritage Insurance Holdings, Inc. (NYSE:HRTG) will report $145.08 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Heritage Insurance’s earnings, with the lowest sales estimate coming in at $131.63 million and the highest estimate coming in at $158.52 million. Heritage Insurance reported sales of $132.71 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Monday, May 3rd.
On average, analysts expect that Heritage Insurance will report full-year sales of $610.27 million for the current year, with estimates ranging from $582.83 million to $637.71 million. For the next year, analysts expect that the firm will report sales of $660.83 million, with estimates ranging from $638.93 million to $682.74 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Heritage Insurance.
Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Thursday, March 4th. The insurance provider reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.49. The business had revenue of $159.55 million for the quarter, compared to analyst estimates of $145.05 million. Heritage Insurance had a return on equity of 4.29% and a net margin of 3.38%.
Shares of HRTG stock traded down $0.17 during mid-day trading on Wednesday, reaching $10.72. The stock had a trading volume of 55,655 shares, compared to its average volume of 151,486. The business’s fifty day moving average is $11.06 and its 200-day moving average is $10.37. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a market cap of $299.78 million, a price-to-earnings ratio of 16.25 and a beta of 0.67. Heritage Insurance has a 1-year low of $8.96 and a 1-year high of $14.05.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Monday, March 15th were paid a $0.06 dividend. The ex-dividend date was Friday, March 12th. 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%.
Several institutional investors and hedge funds have recently modified their holdings of HRTG. Spotlight Asset Group Inc. boosted its stake in shares of Heritage Insurance by 1,114.9% in the first quarter. Spotlight Asset Group Inc. now owns 595,517 shares of the insurance provider’s stock worth $6,598,000 after buying an additional 546,500 shares during the last quarter. BlackRock Inc. boosted its position in Heritage Insurance by 7.7% during the fourth quarter. BlackRock Inc. now owns 2,383,699 shares of the insurance provider’s stock worth $24,147,000 after purchasing an additional 169,717 shares in the last quarter. Boston Partners boosted its position in Heritage Insurance by 139.4% during the fourth quarter. Boston Partners now owns 265,831 shares of the insurance provider’s stock worth $2,693,000 after purchasing an additional 154,809 shares in the last quarter. Invenomic Capital Management LP purchased a new position in Heritage Insurance during the fourth quarter worth approximately $960,000. Finally, Royce & Associates LP boosted its position in Heritage Insurance by 6.1% during the fourth quarter. Royce & Associates LP now owns 1,219,988 shares of the insurance provider’s stock worth $12,358,000 after purchasing an additional 70,000 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.
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, and rental property insurance in Alabama, Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; and commercial residential insurance in Florida, New Jersey, and New York, as well as residential wind-only property and multi-peril property insurance.
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