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

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

Other research analysts have also recently issued research reports about the company. Piper Sandler reaffirmed a neutral rating and set a $9.00 price target on shares of Heritage Insurance in a research report on Monday, April 1st. Truist Financial increased their price objective on Heritage Insurance from $9.00 to $11.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Finally, StockNews.com raised Heritage Insurance from a hold rating to a buy rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Heritage Insurance presently has an average rating of Moderate Buy and an average target price of $9.00.

Heritage Insurance Stock Down 1.2 %

Shares of NYSE HRTG opened at $9.27 on Monday. Heritage Insurance has a one year low of $3.12 and a one year high of $11.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77. The business’s fifty day moving average price is $8.37 and its 200-day moving average price is $7.27. The stock has a market capitalization of $280.14 million, a PE ratio of 5.39 and a beta of 0.90.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Monday, March 11th. The insurance provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.70. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. The firm had revenue of $186.97 million for the quarter, compared to analysts’ expectations of $185.11 million. On average, equities research analysts anticipate that Heritage Insurance will post 1.52 EPS for the current year.

Insider Buying and Selling

In other Heritage Insurance news, Director Paul L. Whiting bought 20,000 shares of the firm’s stock in a transaction 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 purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $162,800. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 3,800 shares of company stock valued at $28,943. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Heritage Insurance by 3.4% in the 1st quarter. BlackRock Inc. now owns 2,505,233 shares of the insurance provider’s stock worth $17,889,000 after acquiring an additional 82,533 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Heritage Insurance by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,983 shares of the insurance provider’s stock valued at $9,474,000 after purchasing an additional 50,432 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Heritage Insurance by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 1,290,710 shares of the insurance provider’s stock valued at $8,415,000 after purchasing an additional 38,288 shares during the last quarter. Spotlight Asset Group Inc. bought a new position in shares of Heritage Insurance during the 1st quarter valued at about $852,000. Finally, Renaissance Technologies LLC increased its position in shares of Heritage Insurance by 7.0% during the 1st quarter. Renaissance Technologies LLC now owns 490,447 shares of the insurance provider’s stock valued at $3,502,000 after purchasing an additional 32,248 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors.

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.