Heritage Insurance (NYSE:HRTG) Reaches New 1-Year High at $16.55

Heritage Insurance Holdings, Inc. (NYSE:HRTG)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $16.55 and last traded at $16.44, with a volume of 381853 shares trading hands. The stock had previously closed at $15.36.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler raised shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $13.00 in a research report on Friday, August 9th. Finally, Truist Financial boosted their target price on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $10.67.

Heritage Insurance Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $8.88. The firm has a market cap of $494.16 million, a P/E ratio of 9.84 and a beta of 0.90.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.23. Heritage Insurance had a return on equity of 24.02% and a net margin of 6.07%. The business had revenue of $203.57 million for the quarter, compared to analysts’ expectations of $196.81 million. During the same period in the previous year, the firm posted $0.32 EPS. Research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.45 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently modified their holdings of HRTG. Innealta Capital LLC bought a new stake in shares of Heritage Insurance during the second quarter valued at approximately $30,000. Valmark Advisers Inc. purchased a new position in Heritage Insurance in the 2nd quarter worth about $80,000. Fortis Capital Advisors LLC bought a new position in Heritage Insurance during the 1st quarter valued at about $134,000. Sei Investments Co. purchased a new stake in shares of Heritage Insurance during the 2nd quarter valued at about $102,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Heritage Insurance in the first quarter worth approximately $155,000. 59.03% of the stock is currently owned by institutional investors.

About Heritage Insurance

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.