Heritage Insurance (NYSE:HRTG) Trading Down 11.9% – Time to Sell?

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was down 11.9% on Monday . The company traded as low as $22.22 and last traded at $22.06. Approximately 180,182 shares changed hands during trading, a decline of 55% from the average daily volume of 401,507 shares. The stock had previously closed at $25.04.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HRTG shares. Truist Financial raised their price objective on Heritage Insurance from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Piper Sandler increased their target price on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th.

Heritage Insurance Trading Down 0.4%

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $21.00 and a 200-day simple moving average of $15.24. The company has a market cap of $728.80 million, a PE ratio of 9.41 and a beta of 1.03.

Heritage Insurance (NYSE:HRTG) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.53. The business had revenue of $211.52 million during the quarter, compared to analysts’ expectations of $213.68 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. On average, analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity at Heritage Insurance

In other Heritage Insurance news, CEO Ernie J. Garateix bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $12.77 per share, with a total value of $63,850.00. Following the purchase, the chief executive officer now directly owns 1,270,808 shares in the company, valued at approximately $16,228,218.16. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Panagiotis Apostolou sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the transaction, the director now directly owns 164,719 shares of the company’s stock, valued at $4,183,862.60. This represents a 13.18% decrease in their position. The disclosure for this sale can be found here. Insiders bought 21,000 shares of company stock worth $280,450 in the last three months. 15.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HRTG. New York State Common Retirement Fund raised its position in Heritage Insurance by 222.2% in the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 2,000 shares in the last quarter. Triumph Capital Management acquired a new stake in Heritage Insurance in the fourth quarter valued at approximately $121,000. Strs Ohio purchased a new position in Heritage Insurance in the first quarter worth approximately $127,000. Cantor Fitzgerald L. P. purchased a new position in Heritage Insurance in the fourth quarter worth approximately $133,000. Finally, SG Americas Securities LLC acquired a new position in Heritage Insurance during the 4th quarter worth approximately $134,000. 59.03% of the stock is owned by institutional investors and hedge funds.

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.