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

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

HRTG has been the subject of several other research reports. Truist Financial increased their price target on shares of Heritage Insurance from $11.00 to $12.00 and gave the company a buy rating in a research report on Thursday. JMP Securities reaffirmed a market perform rating on shares of Heritage Insurance in a research report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $10.67.

Heritage Insurance Trading Up 26.5 %

Shares of HRTG traded up $2.16 during mid-day trading on Thursday, reaching $10.32. The company’s stock had a trading volume of 1,482,562 shares, compared to its average volume of 408,815. The stock has a market cap of $316.16 million, a PE ratio of 6.29 and a beta of 0.90. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. Heritage Insurance has a 52 week low of $4.28 and a 52 week high of $11.23. The company’s fifty day moving average price is $7.42 and its two-hundred day moving average price is $7.97.

Heritage Insurance (NYSE:HRTG) last announced 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. The firm had revenue of $203.57 million during the quarter, compared to analyst estimates of $196.81 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same period in the previous year, the business posted $0.32 EPS. On average, analysts predict that Heritage Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Heritage Insurance

In other news, Director Paul L. Whiting acquired 5,000 shares of Heritage Insurance stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $7.74 per share, for a total transaction of $38,700.00. Following the purchase, the director now owns 64,662 shares in the company, valued at $500,483.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.00% of the stock is owned by company insiders.

Institutional Trading of Heritage Insurance

A number of large investors have recently made changes to their positions in HRTG. Innealta Capital LLC purchased a new position in Heritage Insurance during the second quarter valued at approximately $30,000. Tower Research Capital LLC TRC purchased a new position in Heritage Insurance during the fourth quarter valued at approximately $40,000. Valmark Advisers Inc. purchased a new position in Heritage Insurance during the second quarter valued at approximately $80,000. Fortis Capital Advisors LLC purchased a new position in Heritage Insurance during the first quarter valued at approximately $134,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Heritage Insurance during the first quarter valued at approximately $155,000. 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.