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

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

Several other equities analysts have also commented on HRTG. Truist Financial boosted their price target on 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 upgraded shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and upped their target price for the company from $9.00 to $13.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.67.

Heritage Insurance Price Performance

HRTG opened at $10.17 on Friday. Heritage Insurance has a 52-week low of $5.27 and a 52-week high of $16.90. The company has a 50 day moving average of $13.88 and a two-hundred day moving average of $10.24. The company has a market cap of $311.57 million, a P/E ratio of 6.20 and a beta of 0.95. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.23. Heritage Insurance had a return on equity of 26.27% and a net margin of 7.37%. The firm had revenue of $203.57 million during the quarter, compared to the consensus estimate of $196.81 million. During the same period in the prior year, the firm earned $0.32 EPS. On average, analysts expect that Heritage Insurance will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ernie J. Garateix purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased 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 approximately $9,213,496.56. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ernie J. Garateix bought 5,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $8.59 per share, with a total value of $42,950.00. Following the transaction, the chief executive officer now owns 1,072,584 shares of the company’s stock, valued at approximately $9,213,496.56. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard A. Widdicombe bought 4,437 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $14.55 per share, for a total transaction of $64,558.35. Following the purchase, the chairman now owns 696,497 shares in the company, valued at approximately $10,134,031.35. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 14.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Heritage Insurance during the second quarter worth $30,000. nVerses Capital LLC acquired a new stake in shares of Heritage Insurance during the third quarter worth $49,000. Valmark Advisers Inc. bought a new position in shares of Heritage Insurance in the 2nd quarter worth about $80,000. Sei Investments Co. acquired a new position in shares of Heritage Insurance in the 2nd quarter valued at about $102,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Heritage Insurance during the 1st quarter valued at about $134,000. 59.03% of the stock is currently owned by institutional investors.

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.