Heritage Insurance (NYSE:HRTG) Upgraded at StockNews.com

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

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

Heritage Insurance Price Performance

Shares of HRTG opened at $12.36 on Monday. The stock has a market cap of $379.20 million, a PE ratio of 4.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current 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’s 50-day simple moving average is $11.88 and its two-hundred day simple moving average is $10.61.

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

Insiders Place Their Bets

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

Institutional Trading of Heritage Insurance

Several institutional investors and hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC purchased a new position in Heritage Insurance during the first quarter valued at $663,000. Instrumental Wealth LLC grew its holdings in Heritage Insurance by 109.1% during the 1st quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider’s stock valued at $296,000 after purchasing an additional 14,500 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Heritage Insurance by 263.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 87,814 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 63,645 shares during the last quarter. Innealta Capital LLC bought a new position in Heritage Insurance during the 2nd quarter valued at about $30,000. Finally, Valmark Advisers Inc. purchased a new stake in Heritage Insurance in the 2nd quarter valued at about $80,000. 59.03% of the stock is currently owned by institutional investors.

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.