StockNews.com cut shares of Heritage Insurance (NYSE:HRTG – Get Rating) from a buy rating to a hold rating in a research report report published on Thursday.
Separately, JMP Securities dropped their price target on Heritage Insurance from $6.00 to $4.00 and set a market outperform rating for the company in a report on Tuesday, October 18th.
Get Heritage Insurance alerts:Heritage Insurance Trading Up 4.5 %
Shares of HRTG opened at $1.38 on Thursday. Heritage Insurance has a 1 year low of $1.29 and a 1 year high of $7.37. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $2.42 and a 200-day simple moving average of $3.20. The stock has a market cap of $36.67 million, a PE ratio of -0.21 and a beta of 0.86.
Heritage Insurance (NYSE:HRTG – Get Rating) last issued its earnings results on Thursday, August 4th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.25. Heritage Insurance had a negative return on equity of 10.90% and a negative net margin of 28.07%. The business had revenue of $163.77 million during the quarter, compared to analysts' expectations of $154.69 million. On average, sell-side analysts predict that Heritage Insurance will post -2.17 EPS for the current fiscal year.Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Heritage Insurance by 3.4% during the first quarter. BlackRock Inc. now owns 2,505,233 shares of the insurance provider's stock worth $17,889,000 after acquiring an additional 82,533 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Heritage Insurance by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,983 shares of the insurance provider's stock valued at $9,474,000 after purchasing an additional 50,432 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in shares of Heritage Insurance by 2.0% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 851,318 shares of the insurance provider's stock valued at $6,078,000 after purchasing an additional 16,362 shares during the period. Acuitas Investments LLC raised its stake in shares of Heritage Insurance by 76.0% in the 1st quarter. Acuitas Investments LLC now owns 830,310 shares of the insurance provider's stock valued at $5,928,000 after purchasing an additional 358,603 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Heritage Insurance by 7.0% in the 1st quarter. Renaissance Technologies LLC now owns 490,447 shares of the insurance provider's stock valued at $3,502,000 after purchasing an additional 32,248 shares during the period. 53.52% of the stock is currently owned by institutional investors.
About Heritage Insurance
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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.
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