StockNews.com Upgrades Heritage Insurance (NYSE:HRTG) to ‘Strong-Buy’

Heritage Insurance (NYSE:HRTG – Get Free Report) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Several other equities analysts have also weighed in on the stock. Piper Sandler raised shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $13.00 in a report on Friday, August 9th. Truist Financial lifted their price objective 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 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 stock. The company currently has a consensus rating of “Buy” and an average price target of $10.67, according to MarketBeat.com.

Get our latest analysis on HRTG

Property insurance trading increased by 4.4%

Shares of Heritage Insurance stock opened at $14.63 on Friday. Heritage Insurance has a 1 year low of $4.28 and a 1 year high of $15.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73, and a quick ratio of 0.73. The stock has a market cap of $448.20 million, a PE ratio of 8.92 and a beta of 0.90. The firm has a fifty day moving average price of $7.92 and a 200 day moving average price of $8.24.

Heritage Insurance (NYSE:HRTG – Get Your Free Report ) last issued its quarterly earnings data 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. Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. The business had revenue of $203.57 million during the quarter, compared to analyst estimates of $196.81 million. In the same quarter last year, the business posted EPS of $0.32. equities research analysts predict that Heritage Insurance will post 1.45 earnings per share for the current year.

Insider activity at Heritage Insurance

In related news, Director Paul L. Whiting purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of $7.74 per share, with a total value of $38,700.00. Following the completion of the acquisition, the director now directly owns 64,662 shares of the company’s stock, valued at $500,483.88. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC’s website. 14.00% of shares are owned by corporate insiders.

Institutional investors intervene in patrimony insurance

Large investors have recently modified their holdings in the business. Inçalta Capital LLC acquired a new stake in shares of Heritage Insurance in the second quarter valued at approximately $30,000. Tower Research Capital LLC TRC acquired a new stake in Heritage Insurance in the 4th quarter valued at $40,000. Valmark Advisers Inc. purchased a new stake in shares of Heritage Insurance in the second quarter valued at $80,000. Sei Investments Co. purchased a new position in shares of Heritage Insurance in the second quarter worth $102,000. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Heritage Insurance in the first quarter worth $134,000. Hedge funds and other institutional investors own 59.03% of the company’s shares.

About Heritage Insurance

(Get a free report)

Heritage Insurance Holdings, Inc, through its subsidiaries, provides residential personal and commercial 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 property insurance and wind only.

Further reading

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