Heritage Insurance (NYSE:HRTG) Hits New 52-Week High - Here's What Happened

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.60 and last traded at $19.21, with a volume of 243720 shares changing hands. The stock had previously closed at $18.87.

Analyst Ratings Changes

Separately, StockNews.com cut Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th.

Heritage Insurance Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock's fifty day moving average is $14.34 and its 200-day moving average is $12.53. The stock has a market cap of $804.96 million, a PE ratio of 7.52 and a beta of 0.93.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.83. The business had revenue of $210.26 million for the quarter, compared to analyst estimates of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. As a group, equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, CFO Kirk Lusk purchased 6,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $13.85 per share, for a total transaction of $83,100.00. Following the completion of the purchase, the chief financial officer now directly owns 618,756 shares in the company, valued at approximately $8,569,770.60. This represents a 0.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ernie J. Garateix bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $12.77 per share, with a total value of $63,850.00. Following the purchase, the chief executive officer now owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. The trade was a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 21,000 shares of company stock valued at $280,450 in the last three months. 14.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in Heritage Insurance by 222.2% in the fourth quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 2,000 shares during the period. Triumph Capital Management purchased a new stake in shares of Heritage Insurance during the 4th quarter worth approximately $121,000. Cantor Fitzgerald L. P. purchased a new stake in Heritage Insurance during the fourth quarter worth $133,000. SG Americas Securities LLC acquired a new stake in Heritage Insurance in the 4th quarter valued at about $134,000. Finally, Brandywine Global Investment Management LLC lifted its stake in Heritage Insurance by 21.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,400 shares of the insurance provider's stock valued at $150,000 after buying an additional 2,210 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.

Heritage Insurance Company Profile

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.