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

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

HRTG has been the topic of several other research reports. Truist Financial upped 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. Piper Sandler upgraded Heritage Insurance from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $13.00 in a report on Friday, August 9th.

Heritage Insurance Stock Down 0.6 %

Heritage Insurance stock opened at $12.11 on Friday. The firm has a market cap of $371.53 million, a price-to-earnings ratio of 4.87 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 company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day moving average price of $12.31 and a two-hundred day moving average price of $10.43.

Heritage Insurance (NYSE:HRTG) last announced its 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 business had revenue of $211.85 million during the quarter, compared to the consensus estimate of $209.91 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. During the same quarter last year, the firm earned ($0.28) earnings per share. Equities analysts predict that Heritage Insurance will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HRTG. American Century Companies Inc. raised its stake in shares of Heritage Insurance by 63.3% during the 2nd quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after purchasing an additional 167,819 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Heritage Insurance by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after acquiring an additional 96,923 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Heritage Insurance by 45.7% during the 2nd quarter. Renaissance Technologies LLC now owns 436,099 shares of the insurance provider’s stock worth $3,088,000 after purchasing an additional 136,800 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $622,000 after buying an additional 63,645 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in Heritage Insurance by 413.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 74,772 shares of the insurance provider’s stock valued at $529,000 after purchasing an additional 60,207 shares during the period. 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.