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

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

Several other research firms have also commented on HRTG. Piper Sandler upgraded shares of 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 report on Friday, August 9th. Truist Financial upped their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the company a buy rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $10.67.

Heritage Insurance Trading Up 0.9 %

Shares of HRTG opened at $10.63 on Thursday. The firm’s 50-day moving average is $13.65 and its two-hundred day moving average is $10.26. Heritage Insurance has a twelve month low of $5.03 and a twelve month high of $16.90. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $325.66 million, a P/E ratio of 6.48 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. The business had revenue of $203.57 million for the quarter, compared to analysts’ expectations of $196.81 million. Heritage Insurance had a return on equity of 26.27% and a net margin of 7.37%. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, research analysts predict that Heritage Insurance will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ernie J. Garateix bought 5,000 shares of Heritage Insurance stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $8.59 per share, for a total transaction of $42,950.00. Following the acquisition, the chief executive officer now owns 1,072,584 shares in the company, valued at approximately $9,213,496.56. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Richard A. Widdicombe bought 4,437 shares of the stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $14.55 per share, with a total value of $64,558.35. Following the purchase, the chairman now owns 696,497 shares of the company’s stock, valued at approximately $10,134,031.35. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ernie J. Garateix purchased 5,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $8.59 per share, with a total value of $42,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,072,584 shares in the company, valued at $9,213,496.56. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 14.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in Heritage Insurance by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider’s stock worth $10,016,000 after buying an additional 96,923 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 acquiring an additional 136,800 shares during the period. American Century Companies Inc. boosted its position in shares of Heritage Insurance by 63.3% in the second quarter. American Century Companies Inc. now owns 432,732 shares of the insurance provider’s stock worth $3,064,000 after acquiring an additional 167,819 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Heritage Insurance by 226.3% in the second 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 during the period. Finally, Cubist Systematic Strategies LLC increased its position in Heritage Insurance by 5.3% during the second quarter. Cubist Systematic Strategies LLC now owns 232,105 shares of the insurance provider’s stock worth $1,643,000 after purchasing an additional 11,745 shares during the last quarter. Hedge funds and other 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.