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. It also provides restoration, and emergency and recovery services; and property management, and reinsurance services. The company writes personal line policies through a network of retail independent agents, wholesale agents, and a partnership with a direct agency, as well as indirectly to approximately 1,500 retail locations through eight wholesale agency relationships; and personal and commercial insurance policies through a network of approximately 70 independent agencies. Heritage Insurance Holdings, Inc. was founded in 2012 and is headquartered in Tampa, Florida.
Heritage Insurance Stock Performance
HRTG traded up $1.07 on Friday, reaching $3.50. The stock had a trading volume of 672,282 shares, compared to its average volume of 129,230. The business's 50-day moving average price is $2.95 and its two-hundred day moving average price is $4.64. Heritage Insurance has a 12-month low of $2.26 and a 12-month high of $7.56. The company has a market cap of $92.65 million, a P/E ratio of -0.95 and a beta of 0.88. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.44.
Heritage Insurance (NYSE:HRTG - Get Rating) last announced its earnings results on Thursday, May 5th. The insurance provider reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.50). Heritage Insurance had a negative net margin of 15.61% and a negative return on equity of 10.95%. The company had revenue of $158.61 million during the quarter, compared to analyst estimates of $153.74 million. During the same quarter last year, the business earned ($0.19) EPS. Sell-side analysts forecast that Heritage Insurance will post -1.5 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on HRTG. StockNews.com cut shares of Heritage Insurance from a "buy" rating to a "hold" rating in a report on Thursday, May 19th. JMP Securities cut their price objective on shares of Heritage Insurance from $10.00 to $8.00 and set a "market outperform" rating for the company in a report on Monday, July 18th. TheStreet cut shares of Heritage Insurance from a "c-" rating to a "d+" rating in a report on Tuesday, May 3rd. Finally, Piper Sandler cut their price objective on shares of Heritage Insurance to $6.00 in a report on Thursday, June 9th.
Insider Activity
In related news, CFO Kirk Lusk bought 10,000 shares of the company's stock in a transaction dated Thursday, June 30th. The shares were acquired at an average price of $2.61 per share, for a total transaction of $26,100.00. Following the completion of the transaction, the chief financial officer now directly owns 233,736 shares in the company, valued at $610,050.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company's stock.