Heritage Insurance Holdings, Inc. (NYSE:HRTG) Given Average Rating of “Moderate Buy” by Analysts

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $33.50.

HRTG has been the subject of several recent research reports. Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Truist Financial decreased their price target on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $31.00 price target (up from $27.00) on shares of Heritage Insurance in a report on Wednesday. Zacks Research upgraded Heritage Insurance from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Wall Street Zen lowered Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Insider Buying and Selling

In related news, Director Paul L. Whiting acquired 16,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $23.56 per share, with a total value of $376,960.00. Following the completion of the transaction, the director owned 103,126 shares of the company’s stock, valued at approximately $2,429,648.56. This trade represents a 18.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ernie J. Garateix sold 8,334 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $27.56, for a total transaction of $229,685.04. Following the transaction, the chief executive officer owned 1,060,955 shares in the company, valued at approximately $29,239,919.80. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 35,934 shares of company stock valued at $965,041. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HRTG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider’s stock worth $196,000 after buying an additional 546 shares during the period. Millennium Management LLC lifted its position in shares of Heritage Insurance by 39.8% in the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider’s stock worth $4,657,000 after acquiring an additional 91,982 shares during the period. Empowered Funds LLC lifted its position in shares of Heritage Insurance by 8.4% in the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock worth $1,800,000 after acquiring an additional 9,728 shares during the period. Strs Ohio acquired a new stake in shares of Heritage Insurance during the 1st quarter worth approximately $127,000. Finally, JPMorgan Chase & Co. increased its position in shares of Heritage Insurance by 1,078.7% during the second quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock valued at $3,514,000 after purchasing an additional 128,927 shares during the period. Institutional investors and hedge funds own 59.03% of the company’s stock.

Heritage Insurance Stock Down 2.6%

Shares of Heritage Insurance stock opened at $27.66 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. Heritage Insurance has a 1-year low of $16.83 and a 1-year high of $31.98. The business’s fifty day moving average price is $24.09 and its two-hundred day moving average price is $25.87. The company has a market capitalization of $839.60 million, a P/E ratio of 4.24 and a beta of 0.88.

Heritage Insurance (NYSE:HRTG) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.34). Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%.The company had revenue of $212.66 million for the quarter, compared to the consensus estimate of $215.39 million. As a group, research analysts forecast that Heritage Insurance will post 4.33 EPS for the current year.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.