Heritage Insurance (NYSE:HRTG) Earns Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Heritage Insurance (NYSE:HRTG) in a research report report published on Monday, Benzinga reports.

Several other analysts also recently weighed in on HRTG. StockNews.com raised Heritage Insurance from a hold rating to a buy rating in a research note on Thursday, March 21st. Truist Financial upped their price objective on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Finally, Piper Sandler reissued a neutral rating and set a $9.00 target price on shares of Heritage Insurance in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Heritage Insurance has an average rating of Moderate Buy and a consensus target price of $9.00.

Heritage Insurance Stock Up 2.5 %

HRTG stock opened at $9.50 on Monday. The stock has a market cap of $287.09 million, a PE ratio of 5.52 and a beta of 0.90. The firm’s 50-day simple moving average is $8.44 and its 200 day simple moving average is $7.28. Heritage Insurance has a fifty-two week low of $3.12 and a fifty-two week high of $11.23. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.54.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Monday, March 11th. The insurance provider reported $1.15 EPS for the quarter, topping the consensus estimate of $0.45 by $0.70. The firm had revenue of $186.97 million during the quarter, compared to analysts’ expectations of $185.11 million. Heritage Insurance had a net margin of 6.16% and a return on equity of 26.69%. As a group, sell-side analysts predict that Heritage Insurance will post 1.52 EPS for the current year.

Insider Activity

In other Heritage Insurance news, Director Paul L. Whiting bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $8.14 per share, for a total transaction of $162,800.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $162,800. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 3,800 shares of company stock worth $28,943. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently modified their holdings of HRTG. Lazard Asset Management LLC acquired a new position in shares of Heritage Insurance in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC purchased a new position in shares of Heritage Insurance in the fourth quarter worth approximately $40,000. Qube Research & Technologies Ltd acquired a new stake in shares of Heritage Insurance during the third quarter valued at approximately $43,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Heritage Insurance in the 1st quarter valued at approximately $31,000. Finally, Ritholtz Wealth Management acquired a new position in Heritage Insurance in the 3rd quarter worth approximately $67,000. 59.03% of the stock is currently owned by institutional investors and hedge funds.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.