Heritage Insurance (NYSE:HRTG) Trading Down 4.1% - Here's Why

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) traded down 4.1% on Tuesday . The stock traded as low as $22.12 and last traded at $22.31. 72,404 shares were traded during mid-day trading, a decline of 82% from the average session volume of 409,349 shares. The stock had previously closed at $23.26.

Wall Street Analysts Forecast Growth

HRTG has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Truist Financial boosted their target price on Heritage Insurance from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th.

Heritage Insurance Price Performance

The firm's 50-day moving average is $22.35 and its 200-day moving average is $15.92. The company has a market cap of $704.74 million, a PE ratio of 8.99 and a beta of 1.03. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29.

Heritage Insurance (NYSE:HRTG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.53. Heritage Insurance had a net margin of 9.29% and a return on equity of 26.95%. The firm had revenue of $211.52 million for the quarter, compared to the consensus estimate of $213.68 million. On average, equities analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Insider Activity

In related news, Director Panagiotis Apostolou sold 25,000 shares of the business'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 transaction, the director now directly owns 164,719 shares of the company's stock, valued at approximately $4,183,862.60. The trade was a 13.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HRTG. Jacobs Levy Equity Management Inc. purchased a new stake in Heritage Insurance during the fourth quarter valued at approximately $7,799,000. Segall Bryant & Hamill LLC raised its stake in shares of Heritage Insurance by 176.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 348,556 shares of the insurance provider's stock valued at $4,218,000 after acquiring an additional 222,689 shares during the period. Pacific Ridge Capital Partners LLC grew its holdings in Heritage Insurance by 33.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 813,557 shares of the insurance provider's stock valued at $9,844,000 after purchasing an additional 205,195 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Heritage Insurance by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock worth $18,993,000 after purchasing an additional 193,590 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Heritage Insurance by 24.0% in the fourth quarter. Invesco Ltd. now owns 944,639 shares of the insurance provider's stock worth $11,430,000 after buying an additional 182,624 shares during the period. 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.