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

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

Other analysts have also recently issued research reports about the stock. Piper Sandler restated a neutral rating and issued a $9.00 target price on shares of Heritage Insurance in a research note on Monday, April 1st. Truist Financial raised their price objective on shares of 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 raised Heritage Insurance from a hold rating to a buy rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $9.00.

Heritage Insurance Stock Performance

NYSE HRTG opened at $9.44 on Monday. The firm has a market cap of $285.28 million, a P/E ratio of 5.49 and a beta of 0.89. Heritage Insurance has a 52-week low of $2.95 and a 52-week high of $11.23. The business’s 50-day moving average price is $8.22 and its 200 day moving average price is $7.23. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.54.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.70. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. The business had revenue of $186.97 million for the quarter, compared to analyst estimates of $185.11 million. On average, equities research analysts expect that Heritage Insurance will post 1.52 earnings per share for the current year.

Insider Activity at Heritage Insurance

In related news, Director Paul L. Whiting bought 20,000 shares of the 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 transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $162,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 3,800 shares of company stock worth $28,943 over the last 90 days. Company insiders own 11.90% of the company’s stock.

Institutional Trading of Heritage Insurance

A number of institutional investors have recently bought and sold shares of HRTG. Panagora Asset Management Inc. raised its stake in shares of Heritage Insurance by 38.0% during the 1st quarter. Panagora Asset Management Inc. now owns 136,909 shares of the insurance provider’s stock worth $978,000 after buying an additional 37,672 shares during the last quarter. BlackRock Inc. raised its position in Heritage Insurance by 3.4% during the first quarter. BlackRock Inc. now owns 2,505,233 shares of the insurance provider’s stock worth $17,889,000 after acquiring an additional 82,533 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 50,432 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Heritage Insurance in the first quarter valued at approximately $147,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Heritage Insurance by 14.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 74,430 shares of the insurance provider’s stock worth $532,000 after purchasing an additional 9,541 shares in the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

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.