Heritage Insurance Holdings, Inc. (NYSE:HRTG) Receives Consensus Rating of "Buy" from Brokerages

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) have received an average rating of "Buy" from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.50.

Several analysts have recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Heritage Insurance in a report on Friday, March 27th. Citigroup reiterated a "market perform" rating on shares of Heritage Insurance in a research report on Tuesday, March 10th. Zacks Research upgraded Heritage Insurance from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 11th. Finally, Truist Financial upped their target price on Heritage Insurance from $37.00 to $39.00 and gave the company a "buy" rating in a report on Monday, March 9th.

Heritage Insurance Trading Up 1.6%

Shares of Heritage Insurance stock opened at $30.38 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The firm has a market cap of $933.18 million, a price-to-earnings ratio of 4.81 and a beta of 0.95. The business has a fifty day simple moving average of $26.96 and a 200-day simple moving average of $26.93. Heritage Insurance has a fifty-two week low of $16.83 and a fifty-two week high of $31.98.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.54. The business had revenue of $215.32 million during the quarter, compared to analyst estimates of $212.60 million. Heritage Insurance had a return on equity of 47.28% and a net margin of 23.08%. On average, equities analysts forecast that Heritage Insurance will post 4.7 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ernie J. Garateix sold 8,334 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $27.56, for a total transaction of $229,685.04. Following the completion of the sale, the chief executive officer directly owned 1,060,955 shares of the company's stock, valued at $29,239,919.80. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Timothy Moura sold 24,769 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $25.76, for a total value of $638,049.44. Following the sale, the insider directly owned 160,045 shares of the company's stock, valued at approximately $4,122,759.20. This represents a 13.40% 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. Insiders sold a total of 121,718 shares of company stock valued at $3,179,898 over the last three months. Insiders own 14.00% of the company's stock.

Institutional Investors Weigh In On Heritage Insurance

Hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heritage Insurance during the third quarter valued at $984,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Heritage Insurance by 514.4% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider's stock valued at $1,934,000 after purchasing an additional 64,298 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Heritage Insurance by 201.7% during the third quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider's stock valued at $1,624,000 after purchasing an additional 43,113 shares during the last quarter. Instrumental Wealth LLC lifted its stake in Heritage Insurance by 116.1% in the 3rd quarter. Instrumental Wealth LLC now owns 60,060 shares of the insurance provider's stock worth $1,401,000 after acquiring an additional 32,269 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its stake in Heritage Insurance by 27.2% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider's stock worth $11,556,000 after acquiring an additional 98,246 shares in the last quarter. 59.03% of the stock is owned by hedge funds and other institutional investors.

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.

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