Heritage Insurance (NYSE:HRTG) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Heritage Insurance (NYSE:HRTG) from a buy rating to a hold rating in a research report released on Thursday.

Several other research analysts have also commented on the company. JMP Securities reissued a market perform rating on shares of Heritage Insurance in a report on Monday, April 15th. Truist Financial upped their target price on Heritage Insurance from $9.00 to $11.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $9.00 target price on shares of Heritage Insurance in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $9.00.

Heritage Insurance Price Performance

Shares of NYSE HRTG traded up $0.18 during midday trading on Thursday, hitting $8.15. 510,846 shares of the company’s stock were exchanged, compared to its average volume of 382,001. Heritage Insurance has a 12-month low of $3.20 and a 12-month high of $11.23. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. The company has a market cap of $249.72 million, a price-to-earnings ratio of 4.97 and a beta of 0.92. The business’s fifty day moving average price is $9.20 and its two-hundred day moving average price is $7.61.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.14). Heritage Insurance had a return on equity of 25.96% and a net margin of 6.07%. The business had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.05 million. During the same period in the previous year, the firm posted $0.55 EPS. As a group, research analysts forecast that Heritage Insurance will post 1.52 EPS for the current fiscal year.

Insider Buying and Selling at Heritage Insurance

In related news, Director Paul L. Whiting acquired 20,000 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $162,800. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Heritage Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of HRTG. Tower Research Capital LLC TRC bought a new position in shares of Heritage Insurance during the fourth quarter valued at approximately $40,000. Quadrature Capital Ltd bought a new position in shares of Heritage Insurance during the third quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC bought a new position in shares of Heritage Insurance during the third quarter valued at approximately $172,000. Ritholtz Wealth Management raised its holdings in shares of Heritage Insurance by 232.0% during the fourth quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after acquiring an additional 23,826 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Heritage Insurance by 137.4% during the third quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 27,888 shares in the last quarter. Institutional investors own 59.03% of the company’s stock.

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.