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

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

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

Heritage Insurance Trading Down 0.6 %

Shares of HRTG stock opened at $12.36 on Monday. The stock has a 50 day simple moving average of $11.80 and a 200-day simple moving average of $10.62. Heritage Insurance has a 1-year low of $5.51 and a 1-year high of $16.90. The company has a market cap of $379.20 million, a price-to-earnings ratio of 4.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data 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. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The company had revenue of $211.85 million during the quarter, compared to analysts’ expectations of $209.91 million. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, equities research analysts expect that Heritage Insurance will post 1.27 EPS for the current fiscal year.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Nicholas George Pappas sold 4,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.64, for a total value of $50,560.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC raised its position in shares of Heritage Insurance by 2.7% during the 2nd quarter. ClariVest Asset Management LLC now owns 61,396 shares of the insurance provider’s stock valued at $435,000 after buying an additional 1,620 shares during the period. Victory Capital Management Inc. increased its stake in Heritage Insurance by 3.9% during the second quarter. Victory Capital Management Inc. now owns 106,000 shares of the insurance provider’s stock worth $750,000 after acquiring an additional 4,000 shares during the last quarter. nVerses Capital LLC purchased a new stake in Heritage Insurance in the third quarter valued at $49,000. Innealta Capital LLC acquired a new position in shares of Heritage Insurance in the 2nd quarter valued at $30,000. Finally, Verition Fund Management LLC grew its holdings in shares of Heritage Insurance by 15.1% during the 3rd quarter. Verition Fund Management LLC now owns 32,700 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 4,300 shares during the period. 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.