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

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

Several other equities analysts have also weighed in on HRTG. Piper Sandler raised shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and raised their price objective for the company 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 company a “buy” rating in a report on Thursday, August 8th.

Heritage Insurance Price Performance

Shares of NYSE:HRTG opened at $11.78 on Friday. The business has a fifty day simple moving average of $12.38 and a 200 day simple moving average of $10.40. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Heritage Insurance has a 1 year low of $5.51 and a 1 year high of $16.90. The firm has a market cap of $361.46 million, a price-to-earnings ratio of 4.71 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 for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. The company had revenue of $211.85 million during the quarter, compared to the consensus estimate of $209.91 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. During the same period last year, the business earned ($0.28) EPS. As a group, sell-side analysts predict that Heritage Insurance will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heritage Insurance

A number of institutional investors have recently modified their holdings of HRTG. nVerses Capital LLC bought a new stake in shares of Heritage Insurance during the 3rd quarter worth $49,000. Innealta Capital LLC acquired a new position in Heritage Insurance during the 2nd quarter worth $30,000. Valmark Advisers Inc. bought a new stake in Heritage Insurance during the second quarter valued at about $80,000. MetLife Investment Management LLC grew its position in shares of Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 7,545 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Heritage Insurance in the second quarter worth about $102,000. 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.