Heritage Insurance (NYSE:HRTG) PT Raised to $12.00 at Truist Financial

Heritage Insurance (NYSE:HRTG) had its price objective raised by analysts at Truist Financial from $11.00 to $12.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price objective indicates a potential upside of 16.17% from the stock’s previous close.

A number of other brokerages have also commented on HRTG. JMP Securities reiterated a “market perform” rating on shares of Heritage Insurance in a research report on Monday, April 15th. StockNews.com upgraded Heritage Insurance from a “hold” rating to a “buy” rating in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.67.

Heritage Insurance Price Performance

NYSE:HRTG traded up $2.17 during mid-day trading on Thursday, reaching $10.33. 1,482,629 shares of the company were exchanged, compared to its average volume of 408,815. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The stock has a market cap of $316.47 million, a PE ratio of 6.30 and a beta of 0.90. Heritage Insurance has a 12 month low of $4.28 and a 12 month high of $11.23. The company has a fifty day moving average of $7.45 and a 200 day moving average of $8.00.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. The company had revenue of $203.57 million for the quarter, compared to analyst estimates of $196.81 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same period in the prior year, the business earned $0.32 earnings per share. On average, research analysts anticipate that Heritage Insurance will post 1.45 EPS for the current fiscal year.

Insider Transactions at Heritage Insurance

In other news, Director Paul L. Whiting acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $7.74 per share, for a total transaction of $38,700.00. Following the completion of the acquisition, the director now owns 64,662 shares in the company, valued at $500,483.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of Heritage Insurance by 45.7% during the 2nd quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock worth $3,088,000 after purchasing an additional 136,800 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Heritage Insurance by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock valued at $10,016,000 after buying an additional 96,923 shares in the last quarter. American Century Companies Inc. increased its holdings in Heritage Insurance by 63.3% during the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after buying an additional 167,819 shares during the last quarter. ClariVest Asset Management LLC raised its position in Heritage Insurance by 2.7% during the second quarter. ClariVest Asset Management LLC now owns 61,396 shares of the insurance provider’s stock worth $435,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Heritage Insurance by 226.3% in the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock valued at $2,903,000 after acquiring an additional 284,710 shares during the last quarter. Institutional investors own 59.03% of the company’s stock.

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.