Heritage Insurance (NYSE:HRTG) Stock Price Up 4.5%

Heritage Insurance Holdings, Inc. (NYSE:HRTG) was up 4.5% on Wednesday . The stock traded as high as $16.71 and last traded at $16.68. Approximately 228,969 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 433,585 shares. The stock had previously closed at $15.96.

Wall Street Analyst Weigh In

A number of analysts have commented on HRTG shares. StockNews.com lowered shares of Heritage Insurance from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th. Truist Financial upped their price objective on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Piper Sandler upgraded Heritage Insurance from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $13.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Heritage Insurance currently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Heritage Insurance Stock Up 4.4 %

The company has a market capitalization of $511.13 million, a P/E ratio of 9.76 and a beta of 0.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $12.49 and a 200-day simple moving average of $10.00.

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

Insider Transactions at Heritage Insurance

In other Heritage Insurance news, CEO Ernie J. Garateix acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $8.59 per share, with a total value of $42,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,072,584 shares in the company, valued at approximately $9,213,496.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ernie J. Garateix bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $8.59 per share, for a total transaction of $42,950.00. Following the completion of the acquisition, the chief executive officer now owns 1,072,584 shares of the company’s stock, valued at approximately $9,213,496.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard A. Widdicombe acquired 4,437 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $14.55 per share, with a total value of $64,558.35. Following the acquisition, the chairman now owns 696,497 shares in the company, valued at approximately $10,134,031.35. The disclosure for this purchase can be found here. Company insiders own 14.00% of the company’s stock.

Institutional Trading of Heritage Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Heritage Insurance in the 2nd quarter valued at about $30,000. Valmark Advisers Inc. acquired a new position in Heritage Insurance in the 2nd quarter valued at $80,000. Sei Investments Co. acquired a new stake in shares of Heritage Insurance during the 2nd quarter worth $102,000. Fortis Capital Advisors LLC bought a new position in shares of Heritage Insurance in the first quarter worth $134,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Heritage Insurance in the first quarter valued at about $155,000. Institutional investors own 59.03% of the company’s stock.

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.