Heritage Insurance Holdings Inc (NYSE:HRTG) Receives $17.33 Average Target Price from Brokerages

Heritage Insurance Holdings Inc (NYSE:HRTG) has been given an average rating of “Hold” by the six analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.33.

Several brokerages recently commented on HRTG. TheStreet raised Heritage Insurance from a “c+” rating to a “b-” rating in a report on Wednesday, November 20th. ValuEngine downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods cut Heritage Insurance from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $17.00 to $16.00 in a research report on Monday, November 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Heritage Insurance from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th.

In other Heritage Insurance news, CEO Bruce Lucas sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $14.37, for a total transaction of $1,077,750.00. Following the completion of the sale, the chief executive officer now directly owns 801,859 shares of the company’s stock, valued at $11,522,713.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in shares of Heritage Insurance in the second quarter worth $35,000. Bank of Montreal Can boosted its holdings in Heritage Insurance by 112,650.0% in the 2nd quarter. Bank of Montreal Can now owns 2,255 shares of the insurance provider’s stock worth $35,000 after buying an additional 2,253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Heritage Insurance by 71.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,641 shares of the insurance provider’s stock worth $39,000 after buying an additional 1,097 shares during the period. Tower Research Capital LLC TRC bought a new position in Heritage Insurance in the 3rd quarter worth $62,000. Finally, Meeder Asset Management Inc. purchased a new stake in Heritage Insurance in the 3rd quarter worth $72,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

HRTG stock traded up $0.05 on Friday, hitting $13.27. The company had a trading volume of 79,967 shares, compared to its average volume of 148,349. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.29. Heritage Insurance has a 12-month low of $12.88 and a 12-month high of $16.38. The stock has a market cap of $391.62 million, a price-to-earnings ratio of 9.62 and a beta of 0.72. The stock’s 50-day simple moving average is $13.97 and its 200 day simple moving average is $14.51.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Thursday, October 31st. The insurance provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.14. The business had revenue of $131.70 million during the quarter, compared to analyst estimates of $120.96 million. Heritage Insurance had a net margin of 3.97% and a return on equity of 6.39%. Research analysts forecast that Heritage Insurance will post 0.83 earnings per share for the current year.

Heritage Insurance Company Profile

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; rental property insurance; and commercial residential insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina, as well as residential wind-only property insurance.

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