Heritage Insurance (NYSE:HRTG) Sets New 1-Year High - Should You Buy?

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $17.36 and last traded at $16.90, with a volume of 85069 shares trading hands. The stock had previously closed at $16.23.

Wall Street Analyst Weigh In

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

Heritage Insurance Price Performance

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $13.68 and its two-hundred day moving average is $12.26. The firm has a market cap of $805.48 million, a P/E ratio of 7.52 and a beta of 0.93.

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

Insider Transactions at Heritage Insurance

In related news, Director Paul L. Whiting bought 10,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $133,500.00. Following the completion of the purchase, the director now directly owns 79,576 shares in the company, valued at $1,062,339.60. The trade was a 14.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernie J. Garateix purchased 5,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were bought 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 in the company, 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 worth $280,450 in the last quarter. 14.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heritage Insurance

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Heritage Insurance by 8,472.2% in the 1st quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock worth $450,000 after buying an additional 3,050 shares in the last quarter. Mackenzie Financial Corp bought a new position in Heritage Insurance in the fourth quarter valued at $305,000. Public Employees Retirement System of Ohio purchased a new stake in Heritage Insurance during the fourth quarter valued at about $797,000. Man Group plc bought a new stake in Heritage Insurance during the fourth quarter worth about $662,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Heritage Insurance during the 4th quarter valued at about $7,799,000. Institutional investors own 59.03% of the company's stock.

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.