Heritage Insurance (NYSE:HRTG) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• Heritage Insurance (NYSE:HRTG) received a "Hold (C+)" rating from Weiss Ratings, while Truist Financial upgraded its price target from $30 to $35 with a "buy" rating.
• The company's stock has experienced a significant price range over the last year, with a low of $9.01 and a high of $29.10, currently trading at $25.92.
• Recent insider trading activity includes CFO Kirk Lusk and CAO Sharon Binnun selling shares, reducing their ownership stakes by 3.23% and 10.66% respectively.

Heritage Insurance (NYSE:HRTG - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

HRTG has been the subject of a number of other reports. Truist Financial raised their price target on shares of Heritage Insurance from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Wall Street Zen cut shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Zacks Research cut shares of Heritage Insurance from a "strong-buy" rating to a "hold" rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Heritage Insurance Price Performance

Shares of NYSE HRTG opened at $25.92 on Wednesday. Heritage Insurance has a twelve month low of $9.01 and a twelve month high of $29.10. The firm has a fifty day simple moving average of $23.32 and a 200 day simple moving average of $21.72. The company has a market capitalization of $804.04 million, a PE ratio of 7.47 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.52. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. The business had revenue of $208.04 million during the quarter, compared to the consensus estimate of $212.12 million. On average, sell-side analysts forecast that Heritage Insurance will post 1.86 EPS for the current year.

Insider Activity

In other news, CFO Kirk Lusk sold 20,000 shares of Heritage Insurance stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $24.17, for a total transaction of $483,400.00. Following the completion of the transaction, the chief financial officer directly owned 598,756 shares in the company, valued at $14,471,932.52. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sharon Binnun sold 21,000 shares of Heritage Insurance stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $24.47, for a total transaction of $513,870.00. Following the transaction, the chief accounting officer owned 176,006 shares of the company's stock, valued at $4,306,866.82. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,334 shares of company stock valued at $4,745,788. 15.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HRTG. GAMMA Investing LLC lifted its position in shares of Heritage Insurance by 8,472.2% during the first quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock valued at $450,000 after purchasing an additional 3,050 shares in the last quarter. CWM LLC lifted its position in shares of Heritage Insurance by 83.7% during the first quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock valued at $143,000 after purchasing an additional 4,535 shares in the last quarter. Bailard Inc. lifted its position in shares of Heritage Insurance by 48.6% during the first quarter. Bailard Inc. now owns 24,779 shares of the insurance provider's stock valued at $357,000 after purchasing an additional 8,100 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Heritage Insurance during the first quarter valued at about $228,000. Finally, Mackenzie Financial Corp lifted its position in shares of Heritage Insurance by 307.3% during the first quarter. Mackenzie Financial Corp now owns 102,652 shares of the insurance provider's stock valued at $1,480,000 after purchasing an additional 77,452 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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