JMP Securities Reaffirms “Market Perform” Rating for Heritage Insurance (NYSE:HRTG)

Heritage Insurance (NYSE:HRTG)‘s stock had its “market perform” rating reaffirmed by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports.

Several other equities analysts have also issued reports on HRTG. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Heritage Insurance in a report on Monday, April 1st. Truist Financial upped their price objective on Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.00.

Heritage Insurance Stock Down 0.6 %

Heritage Insurance stock opened at $9.38 on Monday. The company has a market capitalization of $283.46 million, a PE ratio of 5.45 and a beta of 0.89. Heritage Insurance has a 12-month low of $2.95 and a 12-month high of $11.23. The firm’s fifty day moving average is $8.29 and its 200 day moving average is $7.25. 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 quarterly earnings data on Monday, March 11th. The insurance provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.70. Heritage Insurance had a net margin of 6.16% and a return on equity of 26.69%. The firm had revenue of $186.97 million for the quarter, compared to the consensus estimate of $185.11 million. As a group, sell-side analysts predict that Heritage Insurance will post 1.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Heritage Insurance news, Director Paul L. Whiting purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $8.14 per share, with a total value of $162,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $162,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,800 shares of company stock valued at $28,943 in the last ninety days. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in shares of Heritage Insurance during the 3rd quarter valued at $25,000. Atria Wealth Solutions Inc. bought a new stake in shares of Heritage Insurance during the 2nd quarter valued at about $29,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Heritage Insurance during the 1st quarter valued at about $31,000. Lazard Asset Management LLC purchased a new position in shares of Heritage Insurance in the third quarter worth approximately $33,000. Finally, Prudential Financial Inc. bought a new stake in Heritage Insurance during the first quarter valued at approximately $39,000. 59.03% of the stock is currently owned by 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.