Heritage Insurance (NYSE:HRTG) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Heritage Insurance (NYSE:HRTG) from a buy rating to a hold rating in a research report report published on Thursday.

Several other research analysts have also recently weighed in on the stock. Piper Sandler restated a neutral rating and issued a $9.00 price objective on shares of Heritage Insurance in a research report on Monday, April 1st. JMP Securities reissued a market perform rating on shares of Heritage Insurance in a report on Monday, April 15th. Finally, Truist Financial lifted their price objective on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Heritage Insurance presently has a consensus rating of Hold and a consensus target price of $9.00.

Heritage Insurance Price Performance

NYSE:HRTG traded up $0.18 during trading hours on Thursday, hitting $8.15. The stock had a trading volume of 510,846 shares, compared to its average volume of 382,001. The firm has a market capitalization of $249.72 million, a price-to-earnings ratio of 4.97 and a beta of 0.92. Heritage Insurance has a one year low of $3.20 and a one year high of $11.23. The company has a 50 day simple moving average of $9.20 and a two-hundred day simple moving average of $7.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.14). The business had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. During the same period in the prior year, the business posted $0.55 EPS. Research analysts forecast that Heritage Insurance will post 1.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting bought 20,000 shares of Heritage Insurance stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $8.14 per share, with a total value of $162,800.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $162,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in Heritage Insurance in the fourth quarter valued at approximately $40,000. Quadrature Capital Ltd bought a new stake in Heritage Insurance during the 3rd quarter valued at $109,000. O Shaughnessy Asset Management LLC bought a new stake in Heritage Insurance during the 3rd quarter valued at $172,000. Ritholtz Wealth Management boosted its position in Heritage Insurance by 232.0% during the 4th quarter. Ritholtz Wealth Management now owns 34,097 shares of the insurance provider’s stock valued at $222,000 after buying an additional 23,826 shares during the period. Finally, Jump Financial LLC grew its holdings in Heritage Insurance by 137.4% in the 3rd quarter. Jump Financial LLC now owns 48,188 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 27,888 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Insurance

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.