Heritage Insurance (NYSE:HRTG) Issues Earnings Results, Misses Expectations By $0.14 EPS

Heritage Insurance (NYSE:HRTG) released its quarterly earnings data on Wednesday. The insurance provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.14), Zacks reports. The business had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 25.96%. During the same period last year, the company earned $0.55 earnings per share.

Heritage Insurance Price Performance

HRTG traded up $0.18 on Friday, reaching $8.15. The company had a trading volume of 510,846 shares, compared to its average volume of 382,001. Heritage Insurance has a 52-week low of $3.20 and a 52-week high of $11.23. The company has a market cap of $249.72 million, a price-to-earnings ratio of 4.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The business has a 50 day simple moving average of $9.18 and a 200 day simple moving average of $7.57.

Insiders Place Their Bets

In other news, Director Paul L. Whiting bought 20,000 shares of Heritage Insurance stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $8.14 per share, with a total value of $162,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $162,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HRTG. JMP Securities reissued a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. Truist Financial boosted their target price on shares of Heritage Insurance from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. StockNews.com lowered Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective on shares of Heritage Insurance in a research note on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Heritage Insurance presently has an average rating of “Hold” and an average target price of $9.00.

About Heritage Insurance

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.