Heritage Insurance Holdings, Inc. (NYSE:HRTG) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $36.50.

Several equities analysts have weighed in on HRTG shares. Weiss Ratings lowered shares of Heritage Insurance from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Truist Financial raised their price target on shares of Heritage Insurance from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen lowered shares of Heritage Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Piper Sandler upped their price objective on Heritage Insurance from $27.00 to $31.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Finally, Zacks Research upgraded Heritage Insurance from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th.

Heritage Insurance Stock Performance

NYSE HRTG opened at $32.71 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock's fifty day moving average is $26.07 and its two-hundred day moving average is $26.06. The firm has a market capitalization of $992.75 million, a P/E ratio of 4.66 and a beta of 0.89. Heritage Insurance has a fifty-two week low of $20.29 and a fifty-two week high of $36.50.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.80. The business had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.71 million. Heritage Insurance had a return on equity of 44.15% and a net margin of 25.19%. On average, research analysts anticipate that Heritage Insurance will post 4.33 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, CAO Sharon Binnun sold 9,200 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.03, for a total transaction of $276,276.00. Following the completion of the transaction, the chief accounting officer owned 96,388 shares of the company's stock, valued at $2,894,531.64. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul L. Whiting purchased 16,000 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $23.56 per share, with a total value of $376,960.00. Following the completion of the transaction, the director owned 103,126 shares of the company's stock, valued at approximately $2,429,648.56. The trade was a 18.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 27,600 shares of company stock worth $744,924. Corporate insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Heritage Insurance

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in Heritage Insurance in the 2nd quarter valued at approximately $92,000. BlackRock Inc. acquired a new position in Heritage Insurance during the second quarter worth $60,842,000. Deutsche Bank AG purchased a new position in shares of Heritage Insurance during the second quarter worth $658,000. Bank of New York Mellon Corp purchased a new position in shares of Heritage Insurance during the second quarter worth $2,872,000. Finally, State of Wyoming acquired a new stake in shares of Heritage Insurance in the second quarter valued at $210,000. Hedge funds and other institutional investors own 59.03% of the company's stock.

About Heritage Insurance

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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