Heritage Insurance (NYSE:HRTG) Releases Earnings Results, Misses Expectations By $0.14 EPS

Heritage Insurance (NYSE:HRTG) issued its quarterly earnings data on Wednesday. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14), Zacks reports. The firm had revenue of $191.30 million during the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. During the same quarter in the prior year, the business earned $0.55 earnings per share.

Heritage Insurance Price Performance

Shares of HRTG stock traded up $0.18 during mid-day trading on Friday, hitting $8.15. 510,846 shares of the stock traded hands, compared to its average volume of 382,001. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $249.72 million, a price-to-earnings ratio of 4.98 and a beta of 0.92. The company’s 50-day simple moving average is $9.18 and its 200-day simple moving average is $7.57. Heritage Insurance has a twelve month low of $3.20 and a twelve month high of $11.23.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting purchased 20,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $8.14 per share, for a total transaction of $162,800.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $162,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price target on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. StockNews.com lowered Heritage Insurance from a “buy” rating to a “hold” rating in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price objective on shares of Heritage Insurance in a research note on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.00.

Heritage Insurance Company Profile

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.