Heritage Insurance (NYSE:HRTG) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• HRTG stock crossed above its 50‑day moving average (50‑day = $26.46), trading as high as $27.32, indicating a short‑term technical pickup.
• Analysts have grown more positive with an average rating of Buy and a $33.50 target; Truist raised its target to $39 and Zacks upgraded to a strong‑buy.
• Heritage posted a strong quarter—EPS $2.15 vs. $1.61 expected and revenue slightly beat—with a low PE of 4.32 and a high ROE (47.28%), though insiders have recently sold shares.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $26.46 and traded as high as $27.32. Heritage Insurance shares last traded at $27.2750, with a volume of 220,930 shares trading hands.

Analysts Set New Price Targets

HRTG has been the topic of a number of analyst reports. Citigroup reiterated a "market perform" rating on shares of Heritage Insurance in a research note on Tuesday, March 10th. Truist Financial increased their price target on shares of Heritage Insurance from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Zacks Research raised shares of Heritage Insurance from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 11th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Heritage Insurance in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Heritage Insurance currently has an average rating of "Buy" and an average target price of $33.50.

Heritage Insurance Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $26.46 and a 200 day moving average of $26.71. The firm has a market capitalization of $837.92 million, a PE ratio of 4.32 and a beta of 0.95.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The insurance provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.54. The company had revenue of $215.32 million for the quarter, compared to analysts' expectations of $212.60 million. Heritage Insurance had a net margin of 23.08% and a return on equity of 47.28%. Equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Activity

In other Heritage Insurance news, CEO Ernie J. Garateix sold 8,334 shares of Heritage Insurance stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $25.39, for a total transaction of $211,600.26. Following the completion of the sale, the chief executive officer owned 1,069,289 shares of the company's stock, valued at $27,149,247.71. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sharon Binnun sold 9,200 shares of Heritage Insurance stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $25.72, for a total value of $236,624.00. Following the sale, the chief accounting officer directly owned 133,188 shares of the company's stock, valued at approximately $3,425,595.36. This trade represents a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 121,718 shares of company stock worth $3,167,147. 15.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heritage Insurance

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC bought a new position in shares of Heritage Insurance during the 3rd quarter valued at $25,000. Financial Management Professionals Inc. purchased a new position in shares of Heritage Insurance in the third quarter worth about $26,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Heritage Insurance in the fourth quarter worth about $31,000. Royal Bank of Canada increased its holdings in shares of Heritage Insurance by 72.6% in the fourth quarter. Royal Bank of Canada now owns 1,182 shares of the insurance provider's stock worth $35,000 after buying an additional 497 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in shares of Heritage Insurance in the third quarter worth about $36,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.