Zacks: Brokerages Anticipate Heritage Insurance Holdings, Inc. (NYSE:HRTG) to Announce -$0.40 Earnings Per Share

Equities analysts predict that Heritage Insurance Holdings, Inc. (NYSE:HRTG) will report ($0.40) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Heritage Insurance’s earnings. Heritage Insurance reported earnings per share of $0.44 during the same quarter last year, which suggests a negative year-over-year growth rate of 190.9%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, March 3rd.

On average, analysts expect that Heritage Insurance will report full-year earnings of ($0.16) per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $1.38 per share, with EPS estimates ranging from $1.20 to $1.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Heritage Insurance.

Several research analysts have weighed in on HRTG shares. Truist lowered their price target on shares of Heritage Insurance from $19.00 to $14.00 in a report on Wednesday, November 4th. Zacks Investment Research raised shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 6th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.00.

Heritage Insurance stock traded up $0.09 during trading hours on Thursday, hitting $10.28. The company had a trading volume of 3,182 shares, compared to its average volume of 169,289. The firm has a market cap of $288.45 million, a PE ratio of 15.21 and a beta of 0.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. Heritage Insurance has a one year low of $7.50 and a one year high of $14.05. The firm has a 50-day moving average of $9.93 and a 200 day moving average of $10.73.

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Heritage Insurance by 14.1% during the fourth quarter. JPMorgan Chase & Co. now owns 247,838 shares of the insurance provider’s stock worth $2,510,000 after purchasing an additional 30,685 shares during the period. Jane Street Group LLC bought a new position in shares of Heritage Insurance during the fourth quarter worth approximately $126,000. Invenomic Capital Management LP bought a new position in shares of Heritage Insurance during the fourth quarter worth approximately $960,000. Squarepoint Ops LLC increased its holdings in shares of Heritage Insurance by 73.3% during the fourth quarter. Squarepoint Ops LLC now owns 34,227 shares of the insurance provider’s stock worth $347,000 after purchasing an additional 14,482 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in shares of Heritage Insurance by 201.1% during the fourth quarter. Engineers Gate Manager LP now owns 32,973 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 22,023 shares during the period. 67.95% of the stock is currently owned by institutional investors.

About Heritage Insurance

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 and multi-peril property insurance.

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