Brokerages expect that Heritage Insurance Holdings, Inc. (NYSE:HRTG) will post $149.76 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Heritage Insurance’s earnings, with the lowest sales estimate coming in at $141.73 million and the highest estimate coming in at $157.78 million. Heritage Insurance posted sales of $136.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The firm is expected to issue its next earnings results on Monday, August 2nd.
On average, analysts expect that Heritage Insurance will report full-year sales of $610.54 million for the current year, with estimates ranging from $603.41 million to $617.66 million. For the next fiscal year, analysts anticipate that the company will post sales of $657.03 million, with estimates ranging from $646.14 million to $667.92 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Heritage Insurance.
Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, May 5th. The insurance provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.42). Heritage Insurance had a negative net margin of 0.57% and a negative return on equity of 0.78%. The company had revenue of $147.24 million during the quarter, compared to analyst estimates of $145.08 million.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 6th. Shareholders of record on Tuesday, June 15th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Monday, June 14th. Heritage Insurance’s dividend payout ratio is presently 72.73%.
A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Heritage Insurance by 48.1% in the first quarter. AQR Capital Management LLC now owns 208,845 shares of the insurance provider’s stock valued at $2,314,000 after acquiring an additional 67,797 shares during the period. Quadrature Capital Ltd purchased a new position in Heritage Insurance in the 1st quarter valued at approximately $123,000. Nuveen Asset Management LLC raised its holdings in Heritage Insurance by 1.1% during the first quarter. Nuveen Asset Management LLC now owns 303,103 shares of the insurance provider’s stock worth $3,358,000 after purchasing an additional 3,316 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Heritage Insurance by 93.0% during the first quarter. Goldman Sachs Group Inc. now owns 83,424 shares of the insurance provider’s stock worth $925,000 after purchasing an additional 40,192 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Heritage Insurance by 4.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 254,952 shares of the insurance provider’s stock valued at $2,825,000 after purchasing an additional 9,757 shares during the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.
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, 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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