Heritage Insurance (HRTG) Stock Rating Upgraded by ValuEngine

Heritage Insurance (NYSE:HRTG) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other brokerages have also commented on HRTG. Sandler O’Neill reiterated a “buy” rating and set a $19.00 price target on shares of Heritage Insurance in a report on Friday, August 3rd. Zacks Investment Research lowered shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a report on Thursday, August 9th. Finally, Citigroup cut their price target on shares of Heritage Insurance from $17.00 to $16.50 and set a “buy” rating on the stock in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Heritage Insurance currently has a consensus rating of “Buy” and a consensus target price of $19.92.

Shares of NYSE:HRTG opened at $14.09 on Wednesday. The firm has a market cap of $366.40 million, a PE ratio of 9.21 and a beta of 1.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.46. Heritage Insurance has a 52 week low of $12.85 and a 52 week high of $19.15.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings results on Thursday, August 2nd. The insurance provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.55). The business had revenue of $117.97 million for the quarter, compared to analyst estimates of $114.94 million. Heritage Insurance had a return on equity of 10.66% and a net margin of 0.79%. Equities analysts anticipate that Heritage Insurance will post 0.4 earnings per share for the current year.

In related news, CFO Kirk Lusk purchased 3,500 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was purchased at an average cost of $14.31 per share, with a total value of $50,085.00. Following the completion of the purchase, the chief financial officer now owns 51,331 shares in the company, valued at approximately $734,546.61. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Richard A. Widdicombe purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was bought at an average cost of $14.36 per share, with a total value of $71,800.00. Following the completion of the purchase, the president now owns 766,778 shares of the company’s stock, valued at approximately $11,010,932.08. The disclosure for this purchase can be found here. Insiders have purchased 23,539 shares of company stock valued at $343,123 in the last three months. 25.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HRTG. Northpointe Capital LLC bought a new stake in Heritage Insurance in the second quarter valued at $12,010,000. Mesirow Financial Investment Management Equity Management bought a new stake in Heritage Insurance in the second quarter valued at $11,011,000. Kirr Marbach & Co. LLC IN increased its stake in Heritage Insurance by 501.8% in the third quarter. Kirr Marbach & Co. LLC IN now owns 252,380 shares of the insurance provider’s stock valued at $3,740,000 after purchasing an additional 210,445 shares in the last quarter. Phocas Financial Corp. increased its stake in Heritage Insurance by 39.1% in the second quarter. Phocas Financial Corp. now owns 655,167 shares of the insurance provider’s stock valued at $10,922,000 after purchasing an additional 184,161 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in Heritage Insurance by 58.8% in the second quarter. Foundry Partners LLC now owns 478,880 shares of the insurance provider’s stock valued at $7,983,000 after purchasing an additional 177,280 shares in the last quarter. 78.14% of the stock is owned by hedge funds and other institutional investors.

About Heritage Insurance

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners; rental property insurance; and commercial residential insurance, as well as residential wind-only property insurance in Alabama, Connecticut, Florida, Georgia, Hawaii, Massachusetts, New York, New Jersey, North Carolina, Rhode Island, and South Carolina.

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Analyst Recommendations for Heritage Insurance (NYSE:HRTG)

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