Heritage Insurance (NYSE:HRTG) Stock Rating Upgraded by StockNews.com

Heritage Insurance (NYSE:HRTG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

HRTG has been the topic of several other reports. Piper Sandler upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $9.00 to $13.00 in a research report on Friday, August 9th. Truist Financial raised their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th.

Heritage Insurance Stock Performance

NYSE:HRTG traded up $0.11 during midday trading on Monday, reaching $12.50. The stock had a trading volume of 293,641 shares, compared to its average volume of 459,978. Heritage Insurance has a 1-year low of $5.51 and a 1-year high of $16.90. The firm’s fifty day simple moving average is $12.01 and its 200-day simple moving average is $10.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $383.50 million, a P/E ratio of 5.00 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.25. The company had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. During the same period last year, the business posted ($0.28) EPS. On average, equities research analysts forecast that Heritage Insurance will post 1.27 EPS for the current fiscal year.

Institutional Trading of Heritage Insurance

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Heritage Insurance by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock valued at $10,016,000 after purchasing an additional 96,923 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Heritage Insurance by 45.7% during the 2nd quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after purchasing an additional 136,800 shares during the last quarter. American Century Companies Inc. lifted its holdings in Heritage Insurance by 63.3% during the 2nd quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock valued at $3,064,000 after purchasing an additional 167,819 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Heritage Insurance by 226.3% during the 2nd quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock valued at $2,903,000 after purchasing an additional 284,710 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Heritage Insurance by 22.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 388,587 shares of the insurance provider’s stock valued at $4,756,000 after purchasing an additional 70,100 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.