Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) dropped 4.5% on Wednesday . The company traded as low as $22.23 and last traded at $22.58. Approximately 91,821 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 398,477 shares. The stock had previously closed at $23.65.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Piper Sandler raised their price target 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 upped their price objective on shares of Heritage Insurance from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.
Get Our Latest Research Report on HRTG
Heritage Insurance Stock Up 1.7%
The stock has a market cap of $714.32 million, a PE ratio of 9.11 and a beta of 1.01. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $23.17 and a 200-day moving average price of $16.54.
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 analysts' consensus estimates of $0.46 by $0.53. The business had revenue of $211.52 million during the quarter, compared to the consensus estimate of $213.68 million. Heritage Insurance had a return on equity of 26.95% and a net margin of 9.29%. As a group, analysts forecast that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.
Insider Buying and Selling at Heritage Insurance
In related news, Director Panagiotis Apostolou sold 25,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $25.40, for a total transaction of $635,000.00. Following the completion of the sale, the director directly owned 164,719 shares of the company's stock, valued at $4,183,862.60. This trade represents a 13.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 15.20% of the company's stock.
Institutional Investors Weigh In On Heritage Insurance
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in Heritage Insurance during the 1st quarter worth about $127,000. Empowered Funds LLC boosted its stake in Heritage Insurance by 8.4% in the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider's stock worth $1,800,000 after buying an additional 9,728 shares during the last quarter. Millennium Management LLC lifted its stake in shares of 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 purchasing an additional 91,982 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 purchasing an additional 546 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of 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 purchasing an additional 40,220 shares in the last quarter. Institutional investors and hedge funds own 59.03% of the company's stock.
Heritage Insurance Company Profile
(
Get Free Report)
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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