Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Acquires $38,700.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Free Report) Director Paul L. Whiting purchased 5,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $7.74 per share, for a total transaction of $38,700.00. Following the purchase, the director now directly owns 64,662 shares in the company, valued at $500,483.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Heritage Insurance Stock Up 4.2 %

Heritage Insurance stock traded up $0.34 during midday trading on Thursday, hitting $8.51. 306,361 shares of the stock were exchanged, compared to its average volume of 403,213. Heritage Insurance Holdings, Inc. has a 52-week low of $3.73 and a 52-week high of $11.23. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $9.54 and its 200-day moving average price is $7.90. The stock has a market capitalization of $260.75 million, a price-to-earnings ratio of 5.24 and a beta of 0.92.

Heritage Insurance (NYSE:HRTGGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.14). The company had revenue of $191.30 million during the quarter, compared to the consensus estimate of $189.05 million. Heritage Insurance had a net margin of 6.07% and a return on equity of 24.02%. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, research analysts expect that Heritage Insurance Holdings, Inc. will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

A number of institutional investors have recently made changes to their positions in HRTG. Instrumental Wealth LLC boosted its stake in Heritage Insurance by 109.1% during the 1st quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider’s stock valued at $296,000 after purchasing an additional 14,500 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Heritage Insurance during the 1st quarter valued at about $663,000. Fortis Capital Advisors LLC purchased a new stake in shares of Heritage Insurance during the 1st quarter valued at about $134,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Heritage Insurance during the first quarter valued at approximately $155,000. Finally, Empowered Funds LLC lifted its position in Heritage Insurance by 8.1% during the first quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock valued at $1,030,000 after purchasing an additional 7,203 shares during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on HRTG. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective on shares of Heritage Insurance in a research report on Monday, April 1st. StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. JMP Securities restated a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Finally, Truist Financial boosted their price objective on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

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Heritage Insurance Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Heritage Insurance (NYSE:HRTG)

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