Piper Sandler Reiterates Neutral Rating for Heritage Insurance (NYSE:HRTG)

Heritage Insurance (NYSE:HRTGGet Free Report)‘s stock had its “neutral” rating restated by investment analysts at Piper Sandler in a research note issued to investors on Monday, Benzinga reports. They presently have a $9.00 price target on the insurance provider’s stock. Piper Sandler’s target price suggests a potential downside of 17.66% from the company’s current price.

Several other brokerages have also recently weighed in on HRTG. JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a research report on Wednesday, March 13th. StockNews.com upgraded shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Truist Financial boosted their price target on shares of Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Heritage Insurance has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Get Our Latest Stock Analysis on Heritage Insurance

Heritage Insurance Trading Down 0.5 %

Heritage Insurance stock opened at $10.93 on Monday. The stock has a market cap of $330.30 million, a P/E ratio of 6.35 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 has a 1 year low of $2.85 and a 1 year high of $11.23. The firm’s 50 day moving average price is $7.49 and its 200-day moving average price is $6.94.

Insider Buying and Selling at Heritage Insurance

In other news, Director Paul L. Whiting acquired 20,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $8.14 per share, for a total transaction of $162,800.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $162,800. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Heritage Insurance by 3.4% during the first quarter. BlackRock Inc. now owns 2,505,233 shares of the insurance provider’s stock valued at $17,889,000 after acquiring an additional 82,533 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Heritage Insurance by 4.0% during the first 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. Vanguard Group Inc. boosted its stake in shares of Heritage Insurance by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 1,290,710 shares of the insurance provider’s stock valued at $8,415,000 after purchasing an additional 38,288 shares during the period. Spotlight Asset Group Inc. purchased a new stake in shares of Heritage Insurance during the first quarter valued at $852,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Heritage Insurance by 7.0% during the first 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. Institutional investors own 59.03% of the company’s stock.

Heritage Insurance Company Profile

(Get Free Report)

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.

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