Heritage Insurance (NYSE:HRTG) Given “Market Perform” Rating at JMP Securities

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

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

Heritage Insurance Stock Performance

Shares of HRTG opened at $9.27 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. Heritage Insurance has a one year low of $3.12 and a one year high of $11.23. The firm has a market capitalization of $280.14 million, a P/E ratio of 5.39 and a beta of 0.90. The business has a fifty day moving average of $8.37 and a 200 day moving average of $7.27.

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

Insider Activity at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting acquired 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $162,800. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have 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

Several large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Heritage Insurance by 3.4% in the first quarter. BlackRock Inc. now owns 2,505,233 shares of the insurance provider’s stock valued at $17,889,000 after acquiring an additional 82,533 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Heritage Insurance by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,326,983 shares of the insurance provider’s stock valued at $9,474,000 after acquiring an additional 50,432 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Heritage Insurance by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 1,290,710 shares of the insurance provider’s stock worth $8,415,000 after buying an additional 38,288 shares in the last quarter. Spotlight Asset Group Inc. purchased a new stake in shares of Heritage Insurance in the first quarter worth about $852,000. Finally, Renaissance Technologies LLC lifted its position in shares of Heritage Insurance by 7.0% in the first quarter. Renaissance Technologies LLC now owns 490,447 shares of the insurance provider’s stock worth $3,502,000 after buying an additional 32,248 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other 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.