Heritage Insurance (NYSE:HRTG – Get Free Report) had its price objective raised by analysts at Truist Financial from $7.00 to $9.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price target would indicate a potential upside of 28.57% from the company’s previous close.
HRTG has been the topic of a number of other reports. Piper Sandler decreased their target price on Heritage Insurance from $6.35 to $5.70 in a report on Friday, October 6th. JMP Securities upped their price objective on shares of Heritage Insurance from $5.00 to $6.00 and gave the company a “market outperform” rating in a report on Thursday, August 10th. StockNews.com began coverage on shares of Heritage Insurance in a research note on Thursday, October 5th. They set a “buy” rating for the company. Finally, TheStreet raised shares of Heritage Insurance from a “d” rating to a “c-” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Heritage Insurance has an average rating of “Moderate Buy” and an average target price of $6.90.
Read Our Latest Stock Report on Heritage Insurance
Heritage Insurance Stock Performance
Shares of HRTG opened at $7.00 on Monday. The company has a market cap of $178.92 million, a PE ratio of -14.00 and a beta of 0.65. The firm has a 50-day moving average of $5.48 and a 200-day moving average of $4.81. Heritage Insurance has a one year low of $1.12 and a one year high of $7.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.71 and a quick ratio of 0.71.
Heritage Insurance (NYSE:HRTG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.27. The business had revenue of $185.31 million during the quarter, compared to analysts’ expectations of $168.53 million. Heritage Insurance had a negative return on equity of 9.51% and a negative net margin of 1.99%. As a group, equities analysts forecast that Heritage Insurance will post 1.06 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Instrumental Wealth LLC bought a new stake in shares of Heritage Insurance in the first quarter valued at about $94,000. Fortis Capital Management LLC bought a new stake in Heritage Insurance in the 1st quarter valued at about $83,000. Victory Capital Management Inc. grew its position in shares of Heritage Insurance by 23.8% during the 2nd quarter. Victory Capital Management Inc. now owns 106,500 shares of the insurance provider’s stock worth $410,000 after purchasing an additional 20,500 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of Heritage Insurance during the first quarter worth approximately $38,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Heritage Insurance in the third quarter valued at approximately $810,000. Institutional investors own 31.51% of the company’s stock.
Heritage Insurance Company Profile
(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.
Further Reading
Receive News & Ratings for Heritage Insurance Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Heritage Insurance and related companies with MarketBeat.com’s FREE daily email newsletter.
