Zacks Investment Research downgraded shares of Heritage Insurance (NYSE:HRTG) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company. Through its subsidiary, Heritage Property & Casualty Insurance Company, the Company provides personal residential insurance for single-family homeowners and condominium owners. Heritage Insurance Holdings, Inc. is based in Clearwater, Florida. “

Other equities research analysts have also issued research reports about the stock. JMP Securities raised shares of Heritage Insurance from a market perform rating to an outperform rating and set a $19.00 price target on the stock in a report on Tuesday, May 14th. ValuEngine lowered shares of Viewray from a buy rating to a hold rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Heritage Insurance presently has a consensus rating of Hold and a consensus price target of $17.88.

Shares of Heritage Insurance stock opened at $16.04 on Wednesday. The company has a market cap of $482.61 million, a price-to-earnings ratio of 15.77 and a beta of 0.78. Heritage Insurance has a 12-month low of $12.85 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average price of $15.39.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Monday, May 6th. The insurance provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. The business had revenue of $118.26 million for the quarter, compared to analyst estimates of $117.24 million. Heritage Insurance had a net margin of 3.97% and a return on equity of 6.70%. As a group, sell-side analysts expect that Heritage Insurance will post 1.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, June 13th. Heritage Insurance’s payout ratio is 17.39%.

In related news, CFO Kirk Lusk bought 5,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $14.33 per share, with a total value of $71,650.00. Following the purchase, the chief financial officer now owns 128,331 shares of the company’s stock, valued at approximately $1,838,983.23. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HRTG. Phocas Financial Corp. lifted its position in Heritage Insurance by 37.4% during the 4th quarter. Phocas Financial Corp. now owns 883,781 shares of the insurance provider’s stock valued at $13,009,000 after acquiring an additional 240,608 shares during the period. BlackRock Inc. lifted its position in Heritage Insurance by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,569,009 shares of the insurance provider’s stock valued at $23,096,000 after acquiring an additional 25,036 shares during the period. Mackay Shields LLC purchased a new position in Heritage Insurance during the 4th quarter valued at about $518,000. Dimensional Fund Advisors LP lifted its position in Heritage Insurance by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 962,667 shares of the insurance provider’s stock valued at $14,170,000 after acquiring an additional 43,451 shares during the period. Finally, LSV Asset Management lifted its position in Heritage Insurance by 2.4% during the 1st quarter. LSV Asset Management now owns 1,220,250 shares of the insurance provider’s stock valued at $17,815,000 after acquiring an additional 28,514 shares during the period. 64.28% of the stock is currently owned by hedge funds and other institutional investors.

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 insurance.

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