Heritage Insurance (NYSE:HRTG) Stock Rating Upgraded by StockNews.com

Heritage Insurance (NYSE:HRTG - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Thursday.

A number of other equities analysts have also recently issued reports on the stock. Truist Financial raised their target price on shares of Heritage Insurance from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Piper Sandler raised 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. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $10.67.

Heritage Insurance Stock Up 9.2 %

NYSE:HRTG traded up $0.89 during mid-day trading on Thursday, reaching $10.54. The stock had a trading volume of 1,332,970 shares, compared to its average volume of 469,167. The company has a market capitalization of $322.90 million, a price-to-earnings ratio of 6.05 and a beta of 0.95. Heritage Insurance has a 1-year low of $5.03 and a 1-year high of $16.90. The stock's 50 day simple moving average is $13.53 and its two-hundred day simple moving average is $10.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.76 and a quick ratio of 0.76.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.23. Heritage Insurance had a net margin of 7.37% and a return on equity of 26.27%. The firm had revenue of $203.57 million for the quarter, compared to analysts' expectations of $196.81 million. During the same quarter last year, the company posted $0.32 earnings per share. Equities analysts anticipate that Heritage Insurance will post 1.93 EPS for the current year.

Insider Activity

In other news, Chairman Richard A. Widdicombe bought 4,437 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $14.55 per share, with a total value of $64,558.35. Following the completion of the acquisition, the chairman now directly owns 696,497 shares in the company, valued at approximately $10,134,031.35. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Richard A. Widdicombe bought 4,437 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $14.55 per share, with a total value of $64,558.35. Following the completion of the acquisition, the chairman now directly owns 696,497 shares in the company, valued at approximately $10,134,031.35. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ernie J. Garateix bought 5,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were purchased 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 of the company's stock, valued at $9,213,496.56. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 14.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC grew its position in Heritage Insurance by 413.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 74,772 shares of the insurance provider's stock worth $529,000 after buying an additional 60,207 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Heritage Insurance by 5.3% in the second quarter. Cubist Systematic Strategies LLC now owns 232,105 shares of the insurance provider's stock worth $1,643,000 after buying an additional 11,745 shares during the last quarter. Sei Investments Co. purchased a new position in Heritage Insurance during the 2nd quarter worth approximately $102,000. Renaissance Technologies LLC grew its position in 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 purchasing an additional 136,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Heritage Insurance by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,414,585 shares of the insurance provider's stock worth $10,016,000 after purchasing an additional 96,923 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.

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.