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

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

A number of other equities analysts also recently issued reports on the stock. Truist Financial increased 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. Piper Sandler raised 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 report on Friday, August 9th.

Heritage Insurance Trading Down 0.4 %

NYSE HRTG opened at $12.44 on Monday. The stock has a market capitalization of $381.71 million, a P/E ratio of 4.98 and a beta of 0.98. Heritage Insurance has a 52-week low of $5.51 and a 52-week high of $16.90. The firm has a 50-day moving average price of $11.95 and a 200 day moving average price of $10.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

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, beating analysts’ consensus estimates of $0.02 by $0.25. The firm had revenue of $211.85 million for 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 in the previous year, the business earned ($0.28) earnings per share. Equities research analysts expect that Heritage Insurance will post 1.27 EPS for the current year.

Insider Activity

In other news, Director Nicholas George Pappas sold 4,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.64, for a total value of $50,560.00. Following the sale, the director now directly owns 76,314 shares in the company, valued at $964,608.96. This represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Heritage Insurance

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