Heritage Insurance (NYSE:HRTG) Downgraded by StockNews.com

Heritage Insurance (NYSE:HRTG – Get Rating) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Other equities research analysts also recently issued research reports about the company. Truist Financial upped their price target on Heritage Insurance from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Piper Sandler downgraded Heritage Insurance from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $4.30 to $2.20 in a report on Monday, February 13th. Finally, JMP Securities decreased their price target on Heritage Insurance from $4.00 to $3.00 and set a “market outperform” rating for the company in a report on Tuesday, January 17th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Heritage Insurance has a consensus rating of “Moderate Buy” and an average target price of $3.40.

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $2.94 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.73 and a debt-to-equity ratio of 0.98. Heritage Insurance has a twelve month low of $1.12 and a twelve month high of $7.37. The stock’s 50 day moving average is $2.57 and its 200-day moving average is $2.14. The firm has a market capitalization of $75.15 million, a price-to-earnings ratio of -0.51 and a beta of 0.76.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, major shareholder Raymond T. Hyer acquired 202,460 shares of Heritage Insurance stock in a transaction on Monday, February 13th. The stock was purchased at an average price of $1.96 per share, for a total transaction of $396,821.60. Following the purchase, the insider now directly owns 2,811,115 shares of the company’s stock, valued at $5,509,785.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HRTG. Rutabaga Capital Management LLC MA purchased a new position in shares of Heritage Insurance during the 3rd quarter valued at $2,843,000. Spotlight Asset Group Inc. purchased a new stake in Heritage Insurance during the 3rd quarter worth about $852,000. International Assets Investment Management LLC purchased a new stake in Heritage Insurance during the 4th quarter worth about $714,000. Millennium Management LLC lifted its holdings in Heritage Insurance by 111.4% during the 4th quarter. Millennium Management LLC now owns 469,843 shares of the insurance provider’s stock worth $846,000 after purchasing an additional 247,620 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Heritage Insurance by 48.4% during the 4th quarter. Renaissance Technologies LLC now owns 354,599 shares of the insurance provider’s stock worth $638,000 after purchasing an additional 115,700 shares in the last quarter. Hedge funds and other institutional investors own 49.29% of the company’s stock.

About Heritage Insurance

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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.