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

Heritage Insurance (NYSE:HRTG) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

Several other brokerages have also recently commented on HRTG. Truist Financial boosted their price target on 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 raised Heritage Insurance from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $13.00 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Heritage Insurance presently has an average rating of “Buy” and a consensus target price of $10.67.

Heritage Insurance Price Performance

NYSE:HRTG opened at $10.63 on Thursday. The business’s 50-day moving average price is $13.59 and its 200 day moving average price is $10.26. The firm has a market cap of $326.13 million, a P/E ratio of 5.45 and a beta of 0.95. Heritage Insurance has a 52-week low of $5.03 and a 52-week high of $16.90. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.23. The firm had revenue of $203.57 million for the quarter, compared to the consensus estimate of $196.81 million. Heritage Insurance had a return on equity of 26.27% and a net margin of 7.37%. During the same quarter in the previous year, the company earned $0.32 EPS. As a group, sell-side analysts predict that Heritage Insurance will post 1.93 earnings per share for the current fiscal year.

Insider Activity at Heritage Insurance

In other news, CEO Ernie J. Garateix bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $8.59 per share, for a total transaction of $42,950.00. Following the completion of the purchase, the chief executive officer now owns 1,072,584 shares of the company’s stock, valued at $9,213,496.56. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Richard A. Widdicombe acquired 4,437 shares of the company’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $14.55 per share, for a total transaction of $64,558.35. Following the completion of the purchase, the chairman now directly owns 696,497 shares of the company’s stock, valued at $10,134,031.35. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernie J. Garateix acquired 5,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $8.59 per share, with a total value of $42,950.00. Following the completion of the purchase, the chief executive officer now directly owns 1,072,584 shares of the company’s stock, valued at approximately $9,213,496.56. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Heritage Insurance

Several large investors have recently made changes to their positions in HRTG. Acadian Asset Management LLC grew its holdings in shares of Heritage Insurance by 226.3% during the second quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock worth $2,903,000 after purchasing an additional 284,710 shares during the last quarter. American Century Companies Inc. boosted its holdings in Heritage Insurance by 63.3% in the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock valued at $3,064,000 after acquiring an additional 167,819 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Heritage Insurance by 45.7% in the second quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock valued at $3,088,000 after acquiring an additional 136,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Heritage Insurance by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock valued at $10,016,000 after acquiring an additional 96,923 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Heritage Insurance by 263.3% in the second quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock valued at $622,000 after acquiring an additional 63,645 shares during the last quarter. 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.