Heritage Insurance (NYSE:HRTG) Raised to “Strong-Buy” at StockNews.com

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

Other equities analysts have also issued research reports about the company. Truist Financial lifted 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 target price for the stock from $9.00 to $13.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $10.67.

Heritage Insurance Stock Up 4.4 %

Shares of NYSE HRTG opened at $14.63 on Friday. The stock has a market capitalization of $448.20 million, a P/E ratio of 8.92 and a beta of 0.90. The stock’s fifty day moving average is $7.92 and its 200 day moving average is $8.26. Heritage Insurance has a 52 week low of $4.28 and a 52 week high of $15.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73.

Heritage Insurance (NYSE:HRTG) last released its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.38 by $0.23. The firm had revenue of $203.57 million for the quarter, compared to analyst estimates of $196.81 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same period last year, the firm earned $0.32 EPS. Sell-side analysts forecast that Heritage Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Activity

In other Heritage Insurance news, CEO Ernie J. Garateix acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $8.59 per share, for a total transaction of $42,950.00. Following the acquisition, the chief executive officer now directly owns 1,072,584 shares in the company, valued at $9,213,496.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.00% of the company’s stock.

Institutional Trading of Heritage Insurance

Several institutional investors have recently added to or reduced their stakes in HRTG. Innealta Capital LLC acquired a new stake in Heritage Insurance during the 2nd quarter worth about $30,000. Tower Research Capital LLC TRC bought a new stake in shares of Heritage Insurance during the 4th quarter valued at about $40,000. Valmark Advisers Inc. acquired a new stake in Heritage Insurance during the second quarter worth approximately $80,000. Fortis Capital Advisors LLC bought a new stake in Heritage Insurance in the first quarter worth approximately $134,000. Finally, Sei Investments Co. acquired a new position in Heritage Insurance in the second quarter valued at approximately $102,000. 59.03% of the stock is currently owned by institutional investors.

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.