Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $23.39 and traded as low as $21.86. Heritage Insurance shares last traded at $22.12, with a volume of 458,556 shares.
Analyst Ratings Changes
Several research firms have weighed in on HRTG. Truist Financial upped their price target on Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Piper Sandler increased their target price on Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th.
Check Out Our Latest Report on Heritage Insurance
Heritage Insurance Price Performance
The firm has a 50 day simple moving average of $23.47 and a 200-day simple moving average of $16.93. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. The company has a market cap of $650.48 million, a PE ratio of 8.30 and a beta of 1.01.
Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.53. Heritage Insurance had a return on equity of 26.95% and a net margin of 9.29%. The business had revenue of $211.52 million for the quarter, compared to analyst estimates of $213.68 million. As a group, research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Panagiotis Apostolou sold 25,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $25.40, for a total value of $635,000.00. Following the sale, the director owned 164,719 shares in the company, valued at $4,183,862.60. This represents a 13.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Heritage Insurance
A number of large investors have recently bought and sold shares of HRTG. Strs Ohio acquired a new position in Heritage Insurance in the first quarter valued at approximately $127,000. Empowered Funds LLC grew its holdings in Heritage Insurance by 8.4% in the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider's stock valued at $1,800,000 after buying an additional 9,728 shares in the last quarter. Millennium Management LLC grew its holdings in Heritage Insurance by 39.8% in the 1st quarter. Millennium Management LLC now owns 322,957 shares of the insurance provider's stock valued at $4,657,000 after buying an additional 91,982 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Heritage Insurance by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock valued at $196,000 after buying an additional 546 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Heritage Insurance by 8.6% in the 1st quarter. AQR Capital Management LLC now owns 509,080 shares of the insurance provider's stock valued at $7,341,000 after buying an additional 40,220 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.
Heritage Insurance Company Profile
(
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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.
Further Reading
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