Heritage Insurance (NYSE:HRTG) Hits New 52-Week High - Time to Buy?

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $19.97 and last traded at $19.79, with a volume of 161030 shares changing hands. The stock had previously closed at $18.85.

Analyst Ratings Changes

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

Heritage Insurance Stock Up 3.2 %

The stock has a market capitalization of $603.12 million, a PE ratio of 7.78 and a beta of 0.95. 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 business's fifty day moving average price is $15.09 and its two-hundred day moving average price is $12.83.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.83. The firm had revenue of $210.26 million during the quarter, compared to analysts' expectations of $199.87 million. Heritage Insurance had a return on equity of 29.17% and a net margin of 9.10%. On average, equities research analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Insider Transactions at Heritage Insurance

In related news, Director Paul L. Whiting acquired 10,000 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $13.35 per share, for a total transaction of $133,500.00. Following the transaction, the director now owns 79,576 shares in the company, valued at approximately $1,062,339.60. This trade represents a 14.37 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirk Lusk bought 6,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $13.85 per share, with a total value of $83,100.00. Following the completion of the acquisition, the chief financial officer now 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 disclosure for this purchase can be found here. Insiders have acquired 21,000 shares of company stock worth $280,450 over the last 90 days. 14.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Heritage Insurance

Several institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in shares of Heritage Insurance by 222.2% during the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock valued at $35,000 after buying an additional 2,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 during the last quarter. CWM LLC raised its holdings 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 acquiring an additional 4,535 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Heritage Insurance in the fourth quarter valued at approximately $121,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in shares of Heritage Insurance during the fourth quarter worth approximately $133,000. 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.

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