Heritage Insurance (NYSE:HRTG) Rating Increased to Buy at StockNews.com

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

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

Heritage Insurance Trading Up 3.4 %

Heritage Insurance stock opened at $12.19 on Friday. 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 12 month low of $5.51 and a 12 month high of $16.90. The stock’s 50 day simple moving average is $12.38 and its two-hundred day simple moving average is $10.40. The firm has a market cap of $373.88 million, a PE ratio of 4.71 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, topping 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 business had revenue of $211.85 million for the quarter, compared to analyst estimates of $209.91 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. Analysts anticipate that Heritage Insurance will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its holdings in Heritage Insurance by 226.3% in the 2nd quarter. Acadian Asset Management LLC now owns 410,515 shares of the insurance provider’s stock valued at $2,903,000 after purchasing an additional 284,710 shares in the last quarter. American Century Companies Inc. lifted its holdings in Heritage Insurance by 63.3% in the 2nd 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 lifted its holdings in 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 in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Heritage Insurance in the 3rd quarter valued at $1,541,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Heritage Insurance by 87.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 235,019 shares of the insurance provider’s stock valued at $2,877,000 after purchasing an additional 109,714 shares in 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.