Heritage Insurance (NYSE:HRTG) Upgraded to “Buy” at StockNews.com

Heritage Insurance (NYSE:HRTG) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts have also issued reports on HRTG. Truist Financial boosted their price objective on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $13.00 in a research note on Friday, August 9th.

Heritage Insurance Stock Performance

Shares of NYSE:HRTG opened at $11.78 on Friday. The company has a market cap of $361.41 million, a P/E ratio of 4.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Insurance has a one year low of $5.51 and a one year high of $16.90. The business’s 50-day simple moving average is $12.45 and its 200 day simple moving average is $10.39.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.25. The firm had revenue of $211.85 million during the quarter, compared to analyst estimates of $209.91 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. During the same quarter last year, the firm earned ($0.28) EPS. On average, sell-side analysts forecast that Heritage Insurance will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HRTG. Acadian Asset Management LLC raised its position in Heritage Insurance by 226.3% during the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock valued at $2,903,000 after buying an additional 284,710 shares during the period. American Century Companies Inc. raised its position 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 valued at $3,064,000 after buying an additional 167,819 shares during the period. Renaissance Technologies LLC raised its position in Heritage Insurance by 45.7% during the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after buying an additional 136,800 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Heritage Insurance during the third quarter valued at $1,541,000. Finally, Assenagon Asset Management S.A. raised its position in Heritage Insurance by 87.6% during the third quarter. Assenagon Asset Management S.A. now owns 235,019 shares of the insurance provider’s stock valued at $2,877,000 after buying an additional 109,714 shares during the period. 59.03% of the stock is 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.