Heritage Insurance (NYSE:HRTG) Upgraded by StockNews.com to “Buy” Rating

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

HRTG has been the subject of a number of other reports. Truist Financial increased their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler raised shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $13.00 in a research note on Friday, August 9th.

Heritage Insurance Trading Up 0.9 %

Heritage Insurance stock opened at $12.50 on Monday. The company has a 50 day moving average price of $12.01 and a 200 day moving average price of $10.57. 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 has a 52 week low of $5.51 and a 52 week high of $16.90. The firm has a market capitalization of $383.50 million, a price-to-earnings ratio of 5.00 and a beta of 0.98.

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

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds have recently added to or reduced their stakes in HRTG. nVerses Capital LLC bought a new stake in Heritage Insurance in the third quarter worth approximately $49,000. Innealta Capital LLC bought a new stake in Heritage Insurance in the second quarter worth $30,000. Valmark Advisers Inc. bought a new stake in Heritage Insurance in the second quarter worth $80,000. MetLife Investment Management LLC raised its holdings in Heritage Insurance by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock valued at $164,000 after buying an additional 7,545 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Heritage Insurance during the second quarter valued at about $102,000. Institutional investors and hedge funds 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.