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

StockNews.com upgraded shares of Heritage Insurance (NYSE:HRTG) from a hold rating to a buy rating in a report released on Monday.

Other equities analysts have also recently issued reports about the stock. Truist Financial upped their target price on shares of Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and increased their target price for the company from $9.00 to $13.00 in a research note on Friday, August 9th.

Heritage Insurance Stock Up 0.9 %

Heritage Insurance stock opened at $12.50 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Insurance has a fifty-two week low of $5.51 and a fifty-two week high of $16.90. The firm has a fifty day moving average price of $12.01 and a two-hundred day moving average price of $10.57. The firm has a market cap of $383.50 million, a price-to-earnings ratio of 5.00 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.25. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. The firm had revenue of $211.85 million during the quarter, compared to the consensus estimate of $209.91 million. During the same quarter in the prior year, the company earned ($0.28) EPS. As a group, analysts forecast that Heritage Insurance will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently bought and sold shares of HRTG. Acadian Asset Management LLC boosted its position in shares of 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 acquiring an additional 284,710 shares in the last quarter. American Century Companies Inc. boosted 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 valued at $3,064,000 after purchasing an additional 167,819 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Heritage Insurance by 45.7% in 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 period. Segall Bryant & Hamill LLC bought a new stake in Heritage Insurance in the third quarter valued at $1,541,000. Finally, Assenagon Asset Management S.A. raised its stake 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 worth $2,877,000 after acquiring an additional 109,714 shares in 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.