Heritage Insurance climbs for fourth consecutive session; Truist raises PT

Heritage Insurance Holdings

14/03/2025 16:01

** Shares of property and casualty insurer Heritage Insurance HRTG.N rise for the fourth consecutive day, up more than 10% to $13.86

** Truist Securities raises PT to $20 from $15, citing improvement in HRTG's loss ratio

** Brokerage says net loss ratio, excluding catastrophe and weather losses of 31.8% in 4Q24 and 33.7% in 3Q24 last quarter, has shown meaningful improvement, as underlying losses in the mid-forties had been the norm the preceding five quarters

** High levels of reinsurance provide a substantial cushion in case of storms - Truist Securities

** Two of three brokerages rate stock "buy" and one rates "hold"; median PT is $19.5, according to data compiled by LSEG

** Stock up 13.4% YTD, including session moves; it rose 85.6% in 2024

 (Reporting by Ateev Bhandari in Bengaluru)

 ((Ateev.Bhandari@thomsonreuters.com;))