Heritage Insurance (NYSE:HRTG – Free Report) had its price objective upped by JMP Securities from $6.00 to $7.00 in a research report released on Wednesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the insurance provider’s stock.
Several other equities research analysts have also issued reports on the company. Piper Sandler raised their price objective on Heritage Insurance from $5.70 to $7.00 and gave the company a neutral rating in a research note on Monday, November 6th. TheStreet upgraded Heritage Insurance from a d rating to a c- rating in a report on Wednesday, November 1st. StockNews.com downgraded Heritage Insurance from a buy rating to a hold rating in a research report on Monday, November 6th. Finally, Truist Financial upped their price objective on Heritage Insurance from $7.00 to $9.00 and gave the company a buy rating in a research report on Monday, November 6th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $7.67.
Check Out Our Latest Stock Analysis on Heritage Insurance
Heritage Insurance Price Performance
NYSE:HRTG opened at $6.49 on Wednesday. The firm has a market capitalization of $253.24 million, a price-to-earnings ratio of 6.18 and a beta of 0.78. Heritage Insurance has a 1 year low of $1.88 and a 1 year high of $9.79. The business has a 50 day simple moving average of $7.23 and a 200-day simple moving average of $5.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.72.
Heritage Insurance (NYSE:HRTG – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. The business had revenue of $186.30 million during the quarter, compared to analyst estimates of $176.11 million. Heritage Insurance had a return on equity of 18.34% and a net margin of 3.71%. Equities analysts forecast that Heritage Insurance will post 0.99 EPS for the current year.
Insider Buying and Selling at Heritage Insurance
In other news, Director Paul L. Whiting purchased 40,871 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were acquired at an average price of $7.34 per share, with a total value of $299,993.14. Following the transaction, the director now owns 50,533 shares of the company’s stock, valued at $370,912.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Heritage Insurance
A number of hedge funds and other institutional investors have recently made changes to their positions in HRTG. Panagora Asset Management Inc. grew its position 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 in the last quarter. BlackRock Inc. boosted 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 valued at $17,889,000 after purchasing an additional 82,533 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Heritage Insurance by 4.0% during 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 bought a new stake in Heritage Insurance during the first quarter valued at about $147,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Heritage Insurance by 14.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 74,430 shares of the insurance provider’s stock valued at $532,000 after purchasing an additional 9,541 shares in the last quarter. Institutional investors own 31.51% of the company’s stock.
About Heritage Insurance
(Get Free Report)
Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; and rental property insurance in the states of 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.
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