Heritage Insurance (NYSE:HRTG) Upgraded at StockNews.com

StockNews.com upgraded shares of Heritage Insurance (NYSE:HRTG) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

Several other equities research analysts also recently issued reports on HRTG. Truist Financial lifted their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Piper Sandler raised shares of Heritage Insurance from a neutral rating to an overweight rating and lifted their price target for the stock from $9.00 to $13.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $10.67.

Heritage Insurance Stock Performance

NYSE:HRTG opened at $15.13 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $463.52 million, a price-to-earnings ratio of 9.23 and a beta of 0.90. The firm’s fifty day simple moving average is $8.06 and its 200 day simple moving average is $8.32. Heritage Insurance has a twelve month low of $4.28 and a twelve month high of $15.27.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.23. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. The firm had revenue of $203.57 million for the quarter, compared to the consensus estimate of $196.81 million. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts expect that Heritage Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Transactions at Heritage Insurance

In related news, CEO Ernie J. Garateix bought 5,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $8.59 per share, with a total value of $42,950.00. Following the transaction, the chief executive officer now owns 1,072,584 shares of the company’s stock, valued at $9,213,496.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently modified their holdings of HRTG. Assenagon Asset Management S.A. boosted its holdings in shares of Heritage Insurance by 265.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 314,856 shares of the insurance provider’s stock valued at $3,353,000 after buying an additional 228,655 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Heritage Insurance by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 104,000 shares of the insurance provider’s stock valued at $678,000 after buying an additional 12,000 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Heritage Insurance in the 1st quarter valued at about $155,000. Tower Research Capital LLC TRC acquired a new position in shares of Heritage Insurance in the 4th quarter valued at about $40,000. Finally, Empowered Funds LLC boosted its holdings in shares of Heritage Insurance by 8.1% in the 1st quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock valued at $1,030,000 after buying an additional 7,203 shares during the period. Institutional investors own 59.03% of the company’s stock.

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.