Keefe Bruyette & Woods Maintains Heritage Insurance Holdings Inc to Outperform with Price Target $18.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Heritage Insurance Holdings Inc(NYSE:HRTG). In a research note issued to the investors, the brokerage major Lowers the price-target to $18.00 per share. The shares have been rated Outperform. The rating by Keefe Bruyette & Woods was issued on Jun 13, 2016.

In a different note, On Apr 8, 2016, Citigroup said it Maintains its rating on Heritage Insurance Holdings Inc. In the research note, the firm Lowers the price-target to $25.00 per share. The shares have been rated ‘Buy’ by the firm.

Heritage Insurance Holdings Inc (HRTG) shares turned negative on Fridays trading session with the shares closing down -0.16 points or -1.25% at a volume of 3,00,312. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.81. The peak price level was also seen at $12.81 while the days lowest was $12.46. Finally the shares closed at $12.64. The 52-week high of the shares is $27.28 while the 52-week low is $12. According to the latest information available, the market cap of the company is $377 M.

Heritage Insurance Holdings Inc(HRTG) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $106.34M. Analysts had an estimated revenue of $104.44M. Earnings per share were $0.24. Analysts had estimated an EPS of $0.53.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Bruce Lucas (CEO) purchased 18,500 shares at $13.40 per share price.Also, On May 11, 2016, Stephen L Rohde (CFO) purchased 3,000 shares at $13.40 per share price.On Apr 6, 2016, Joseph Vattamattam (director) sold 5,000 shares at $15.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Heritage Insurance Holdings Inc. (Heritage Insurance) formerly Heritage Insurance Holdings LLC is a property and casualty insurance holding company. The Company is engaged in providing personal and commercial residential insurance. Through Its subsidiary Heritage Property & Casualty Insurance Company (Heritage P&C) it provides personal residential insurance for single-family homeowners and condominium owners rental property insurance and commercial residential insurance in the state of Florida. The Company is vertically integrated and control or manage all aspects of insurance underwriting actuarial analysis distribution and claims processing and adjusting. It has approximately 207000 personal residential policies in force and approximately 2400 commercial residential policies in force.

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