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

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

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

Heritage Insurance Price Performance

HRTG opened at $9.50 on Monday. 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 stock has a market capitalization of $287.09 million, a P/E ratio of 5.52 and a beta of 0.90. The company’s 50 day simple moving average is $8.44 and its 200-day simple moving average is $7.28. Heritage Insurance has a one year low of $3.12 and a one year high of $11.23.

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

Insider Buying and Selling

In other news, Director Paul L. Whiting bought 20,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $8.14 per share, for a total transaction of $162,800.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $162,800. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 3,800 shares of company stock valued at $28,943 in the last 90 days. 11.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC bought a new position in shares of Heritage Insurance during the 3rd quarter valued at about $2,171,000. Acadian Asset Management LLC lifted its stake in Heritage Insurance by 110.3% in the third quarter. Acadian Asset Management LLC now owns 376,832 shares of the insurance provider’s stock valued at $2,444,000 after buying an additional 197,656 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Heritage Insurance in the third quarter valued at approximately $172,000. Ritholtz Wealth Management boosted its holdings in shares of Heritage Insurance by 232.0% in the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after buying an additional 23,826 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Heritage Insurance during the third quarter worth $109,000. 59.03% of the stock is 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.