Heritage Insurance (NYSE:HRTG) Downgraded by StockNews.com

Heritage Insurance (NYSE:HRTG – Get Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

Several other equities analysts have also issued reports on HRTG. Truist Financial raised their price target on Heritage Insurance from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Piper Sandler lowered Heritage Insurance from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $4.30 to $2.20 in a research report on Monday, February 13th. Finally, JMP Securities reduced their price target on Heritage Insurance from $4.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Tuesday, January 17th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.40.

Heritage Insurance Price Performance

Shares of Heritage Insurance stock opened at $2.94 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $75.15 million, a PE ratio of -0.51 and a beta of 0.76. The business’s 50-day moving average price is $2.57 and its 200-day moving average price is $2.14. Heritage Insurance has a 12 month low of $1.12 and a 12 month high of $7.37.

Insider Activity

In other news, major shareholder Raymond T. Hyer bought 202,460 shares of the stock in a transaction dated Monday, February 13th. The stock was bought at an average price of $1.96 per share, for a total transaction of $396,821.60. Following the purchase, the insider now directly owns 2,811,115 shares in the company, valued at approximately $5,509,785.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new position in Heritage Insurance during the third quarter valued at $25,000. Atria Wealth Solutions Inc. purchased a new position in Heritage Insurance during the second quarter valued at $29,000. Corton Capital Inc. purchased a new position in Heritage Insurance during the second quarter valued at $34,000. Delphia USA Inc. bought a new stake in shares of Heritage Insurance in the 2nd quarter worth $37,000. Finally, Herold Advisors Inc. increased its holdings in shares of Heritage Insurance by 64.3% in the 3rd quarter. Herold Advisors Inc. now owns 23,000 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 49.29% of the company’s stock.

About Heritage Insurance

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Heritage Insurance Holdings, Inc engages in the provision of personal and residential premium, property, and casualty insurance policies. It offers personal residential insurance for single-family homeowners and condominium owners, rental property insurance, and commercial residential insurance. The company was founded in August 2012 and is headquartered in Tampa, FL.