Heritage Insurance (NYSE:HRTG) Given New $3.00 Price Target at JMP Securities

Heritage Insurance (NYSE:HRTGGet Rating) had its price target lowered by JMP Securities from $4.00 to $3.00 in a research report report published on Tuesday, Benzinga reports. JMP Securities currently has a market outperform rating on the insurance provider’s stock.

Several other brokerages have also commented on HRTG. StockNews.com upgraded shares of Heritage Insurance from a hold rating to a buy rating in a research report on Thursday, December 29th. Piper Sandler boosted their target price on shares of Heritage Insurance from $4.00 to $4.30 in a research note on Tuesday, January 10th.

Heritage Insurance Trading Down 1.3 %

NYSE HRTG opened at $2.23 on Tuesday. The firm has a 50 day simple moving average of $1.73 and a 200-day simple moving average of $2.15. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.74 and a current ratio of 0.74. Heritage Insurance has a one year low of $1.12 and a one year high of $7.37. The firm has a market cap of $57.70 million, a price-to-earnings ratio of -0.28 and a beta of 0.62.

Heritage Insurance (NYSE:HRTGGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The insurance provider reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.59). The company had revenue of $165.49 million for the quarter, compared to analyst estimates of $161.13 million. Heritage Insurance had a negative return on equity of 28.08% and a negative net margin of 33.01%. Equities research analysts anticipate that Heritage Insurance will post -3.06 EPS for the current fiscal year.

Insider Transactions at Heritage Insurance

In related news, major shareholder Raymond T. Hyer purchased 229,995 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were purchased at an average cost of $1.38 per share, with a total value of $317,393.10. Following the completion of the acquisition, the insider now directly owns 2,319,995 shares of the company’s stock, valued at approximately $3,201,593.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Raymond T. Hyer purchased 229,995 shares of the stock in a transaction dated Friday, October 21st. The stock was acquired at an average price of $1.38 per share, for a total transaction of $317,393.10. Following the completion of the transaction, the insider now owns 2,319,995 shares of the company’s stock, valued at $3,201,593.10. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Raymond T. Hyer bought 158,660 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was bought at an average price of $1.33 per share, with a total value of $211,017.80. Following the transaction, the insider now directly owns 2,478,655 shares in the company, valued at $3,296,611.15. The disclosure for this purchase can be found here. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Heritage Insurance

A number of hedge funds have recently bought and sold shares of HRTG. Cubist Systematic Strategies LLC acquired a new position in shares of Heritage Insurance in the 3rd quarter valued at about $25,000. Atria Wealth Solutions Inc. acquired a new position in Heritage Insurance during the second quarter valued at approximately $29,000. Corton Capital Inc. acquired a new position in Heritage Insurance during the second quarter valued at approximately $34,000. Herold Advisors Inc. grew its holdings in Heritage Insurance by 133.3% during the second quarter. Herold Advisors Inc. now owns 14,000 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Delphia USA Inc. bought a new stake in shares of Heritage Insurance in the second quarter valued at approximately $37,000. 49.29% of the stock is owned by hedge funds and other institutional investors.

Heritage Insurance Company Profile

(Get Rating)

Heritage Insurance Holdings, Inc engages in the provision of personal and residential premium, property, and casualty insurance policies. It offers personal residential insurance for single-family homeowners and condominium owners, rental property insurance, and commercial residential insurance. The company was founded in August 2012 and is headquartered in Tampa, FL.

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