Heritage Insurance's (HRTG) "Market Perform" Rating Reiterated at JMP Securities

Heritage Insurance (NYSE:HRTG - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at JMP Securities in a report issued on Monday, Benzinga reports.

A number of other brokerages have also issued reports on HRTG. Piper Sandler reissued a "neutral" rating and issued a $9.00 price target on shares of Heritage Insurance in a report on Monday, April 1st. Truist Financial boosted their price objective on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Finally, StockNews.com raised shares of Heritage Insurance from a "hold" rating to a "buy" rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Heritage Insurance presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Heritage Insurance Stock Performance

Shares of Heritage Insurance stock traded up $0.01 on Monday, reaching $9.44. 416,468 shares of the company traded hands, compared to its average volume of 410,108. Heritage Insurance has a 52 week low of $2.95 and a 52 week high of $11.23. The company has a 50 day moving average of $8.22 and a 200 day moving average of $7.23. The firm has a market capitalization of $285.28 million, a PE ratio of 5.49 and a beta of 0.89. 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 - Get Free Report) last posted its earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.70. The business had revenue of $186.97 million for the quarter, compared to analysts' expectations of $185.11 million. Heritage Insurance had a net margin of 6.16% and a return on equity of 26.69%. Equities analysts forecast that Heritage Insurance will post 1.52 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul L. Whiting purchased 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 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 through this hyperlink. Insiders have sold 3,800 shares of company stock valued at $28,943 in the last 90 days. Company insiders own 11.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRTG. Cubist Systematic Strategies LLC bought a new stake in shares of Heritage Insurance in the 3rd quarter valued at about $25,000. Atria Wealth Solutions Inc. bought a new stake in shares of Heritage Insurance in the 2nd quarter valued at about $29,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Heritage Insurance in the 1st quarter valued at about $31,000. Lazard Asset Management LLC bought a new stake in shares of Heritage Insurance in the 3rd quarter valued at about $33,000. Finally, Prudential Financial Inc. bought a new stake in shares of Heritage Insurance in the 1st quarter valued at about $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.