Heritage Insurance (NYSE:HRTG) Stock Price Passes Above Fifty Day Moving Average Following Insider Selling

Key Points

• Heritage Insurance Holdings, Inc. saw its stock price rise above the 50-day moving average of $23.92, reaching a high of $26.73 after insider buying activity.
• Recent analyst ratings indicate a consensus of "Moderate Buy" with a target price raised to $31.50, reflecting varying perspectives with some analysts lowering their ratings.
• Institutional ownership of Heritage Insurance stands at 59.03%, with significant increases in stakes from multiple hedge funds during the first quarter.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday after an insider bought additional shares in the company. The stock has a 50 day moving average of $23.92 and traded as high as $26.73. Heritage Insurance shares last traded at $23.85, with a volume of 634,297 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on HRTG shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Heritage Insurance in a report on Wednesday, October 8th. Truist Financial increased their target price on shares of Heritage Insurance from $30.00 to $35.00 and gave the company a "buy" rating in a report on Friday, September 19th. Wall Street Zen lowered shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Zacks Research lowered shares of Heritage Insurance from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

Heritage Insurance Stock Performance

The company's 50-day moving average price is $23.92 and its 200 day moving average price is $22.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $739.83 million, a PE ratio of 6.87 and a beta of 0.98.

Heritage Insurance (NYSE:HRTG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.03 by $0.52. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. The firm had revenue of $208.04 million during the quarter, compared to analysts' expectations of $212.12 million. On average, equities research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of Heritage Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Heritage Insurance by 8,472.2% in the first quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock worth $450,000 after acquiring an additional 3,050 shares during the period. CWM LLC lifted its holdings in 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 purchasing an additional 4,535 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Heritage Insurance by 48.6% in the first quarter. Bailard Inc. now owns 24,779 shares of the insurance provider's stock worth $357,000 after buying an additional 8,100 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Heritage Insurance in the first quarter worth $228,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Heritage Insurance by 307.3% in the first quarter. Mackenzie Financial Corp now owns 102,652 shares of the insurance provider's stock worth $1,480,000 after buying an additional 77,452 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.

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.

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