Heritage Insurance (NYSE:HRTG) Posts Quarterly Earnings Results, Beats Estimates By $0.83 EPS

Heritage Insurance (NYSE:HRTG) announced its quarterly earnings data on Tuesday. The insurance provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.83, Zacks reports. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%.

Heritage Insurance Trading Up 4.8 %

Shares of HRTG stock traded up $0.54 on Tuesday, hitting $11.84. The stock had a trading volume of 212,778 shares, compared to its average volume of 165,470. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance has a twelve month low of $6.14 and a twelve month high of $16.90. The company has a fifty day moving average price of $11.56 and a two-hundred day moving average price of $12.33. The firm has a market cap of $363.27 million, a P/E ratio of 4.74 and a beta of 1.00.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Heritage Insurance declared that its Board of Directors has authorized a share repurchase program on Monday, December 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Heritage Insurance Company Profile

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.