Heritage Insurance (NYSE:HRTG) Downgraded by StockNews.com to "Buy"

StockNews.com downgraded shares of Heritage Insurance (NYSE:HRTG - Free Report) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

HRTG has been the subject of a number of other research reports. Truist Financial upped their target price on Heritage Insurance from $11.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Piper Sandler upgraded shares of Heritage Insurance from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $9.00 to $13.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $10.67.

Heritage Insurance Trading Down 1.3 %

HRTG traded down $0.13 during trading on Friday, hitting $10.11. 401,757 shares of the stock traded hands, compared to its average volume of 470,390. The firm has a market capitalization of $309.73 million, a P/E ratio of 6.24 and a beta of 0.95. Heritage Insurance has a 12-month low of $5.20 and a 12-month high of $16.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average of $13.90 and a 200 day moving average of $10.26.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its 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 company had revenue of $203.57 million during the quarter, compared to analyst estimates of $196.81 million. Heritage Insurance had a net margin of 7.37% and a return on equity of 26.27%. During the same period in the prior year, the business posted $0.32 earnings per share. Equities research analysts anticipate that Heritage Insurance will post 1.93 EPS for the current year.

Insider Transactions at Heritage Insurance

In other news, Chairman Richard A. Widdicombe acquired 4,437 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $14.55 per share, with a total value of $64,558.35. Following the transaction, the chairman now owns 696,497 shares of the company's stock, valued at $10,134,031.35. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Heritage Insurance news, Chairman Richard A. Widdicombe acquired 4,437 shares of Heritage Insurance stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $14.55 per share, for a total transaction of $64,558.35. Following the acquisition, the chairman now owns 696,497 shares of the company's stock, valued at $10,134,031.35. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ernie J. Garateix acquired 5,000 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were bought at an average cost 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 of the company's stock, valued at $9,213,496.56. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 14.00% of the company's stock.

Institutional Investors Weigh In On Heritage Insurance

A number of large investors have recently made changes to their positions in the company. Empowered Funds LLC grew its position in Heritage Insurance by 8.1% during the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider's stock valued at $1,030,000 after buying an additional 7,203 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Heritage Insurance during the 1st quarter valued at $155,000. Fortis Capital Advisors LLC purchased a new stake in shares of Heritage Insurance in the 1st quarter worth $134,000. Kennedy Capital Management LLC bought a new position in Heritage Insurance in the 1st quarter worth $663,000. Finally, Instrumental Wealth LLC lifted its position in Heritage Insurance by 109.1% during the first quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider's stock valued at $296,000 after purchasing an additional 14,500 shares in the last quarter. 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.