Heritage Insurance (NYSE:HRTG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Heritage Insurance (NYSE:HRTG) from a hold rating to a buy rating in a research report report published on Saturday morning.

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

Heritage Insurance Stock Down 0.6 %

Shares of NYSE HRTG opened at $12.11 on Friday. The stock has a market capitalization of $371.53 million, a P/E ratio of 4.87 and a beta of 0.98. The stock’s fifty day moving average is $12.31 and its 200 day moving average is $10.43. 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.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.02 by $0.25. The company had revenue of $211.85 million during the quarter, compared to analysts’ expectations of $209.91 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. During the same period in the previous year, the company earned ($0.28) EPS. Sell-side analysts forecast that Heritage Insurance will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Heritage Insurance

A number of hedge funds have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Heritage Insurance during the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new position in shares of Heritage Insurance during the third quarter valued at $49,000. Valmark Advisers Inc. acquired a new position in shares of Heritage Insurance during the second quarter worth $80,000. Sei Investments Co. bought a new stake in shares of Heritage Insurance in the second quarter worth $102,000. Finally, MetLife Investment Management LLC grew its stake in shares of Heritage Insurance by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 7,545 shares during the last quarter. 59.03% of the stock is owned by institutional investors and hedge funds.

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.