On October 5, 2023, Piper Sandler maintained its coverage of Heritage Insurance Holdings (NYSE:HRTG) with a Neutral recommendation, according to a report by Fintel. This report provides an analysis of the company’s stock and includes valuable information for investors.
The average one-year price target for Heritage Insurance Holdings is 6.20, with forecasts ranging from a low of 5.30 to a high of $7.35. This represents a potential upside of 9.63% from its latest reported closing price of 5.66. This suggests that analysts believe there is room for the stock to grow in the coming year.
Heritage Insurance Holdings is projected to have annual revenue of 693MM, a decrease of 1.30%. The projected annual non-GAAP EPS is 0.74. These figures provide insights into the financial performance of the company and can help investors make informed decisions.
The report also looks at the sentiment of funds and institutions towards Heritage Insurance Holdings. There are currently 125 funds or institutions reporting positions in the company, an increase of 12 owners or 10.62% in the last quarter. The average portfolio weight of all funds dedicated to HRTG is 0.03%, an increase of 20.98%. This indicates a positive sentiment towards the stock.
The put/call ratio of HRTG is 0.27, indicating a bullish outlook. This suggests that investors are more optimistic about the future direction of the stock.
The report also provides information on other shareholders of Heritage Insurance Holdings. For example, Pacific Ridge Capital Partners holds 1,010K shares representing 4.05% ownership of the company. Vanguard Total Stock Market Index Fund Investor Shares holds 865K shares representing 3.46% ownership, while Vanguard Extended Market Index Fund Investor Shares holds 353K shares representing 1.42% ownership. Renaissance Technologies holds 336K shares representing 1.35% ownership, and Simt Tax-managed Small holds 320K shares representing 1.28% ownership. These figures can provide insights into the confidence that institutional investors have in the company.
Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. It writes over $1 billion of gross personal and commercial residential premium across its multi-state footprint.
In conclusion, the report by Piper Sandler suggests that Heritage Insurance Holdings has a Neutral recommendation with a potential upside of 9.63%. The company is projected to have annual revenue of 693MM with a non-GAAP EPS of 0.74. The sentiment of funds and institutions is positive, and the put/call ratio indicates a bullish outlook. The report also provides information on other shareholders and background information on Heritage Insurance Holdings.