Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) traded down 5.6% on Tuesday . The stock traded as low as $23.25 and last traded at $24.05. 270,108 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 316,107 shares. The stock had previously closed at $25.47.
Wall Street Analyst Weigh In
HRTG has been the topic of several recent analyst reports. Truist Financial boosted 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. Piper Sandler boosted their target price on shares of Heritage Insurance from $19.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Heritage Insurance from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.
Read Our Latest Research Report on HRTG
Heritage Insurance Stock Down 2.2%
The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day moving average price of $20.28 and a 200 day moving average price of $14.89. The company has a market cap of $745.69 million, a P/E ratio of 9.62 and a beta of 0.95.
Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.53. The business had revenue of $211.52 million for the quarter, compared to analyst estimates of $213.68 million. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. Research analysts expect that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Ernie J. Garateix acquired 5,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $12.77 per share, with a total value of $63,850.00. Following the completion of the purchase, the chief executive officer now owns 1,270,808 shares of the company's stock, valued at $16,228,218.16. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $635,000.00. Following the transaction, the director now owns 164,719 shares in the company, valued at $4,183,862.60. The trade was a 13.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 21,000 shares of company stock valued at $280,450 over the last quarter. Insiders own 15.20% of the company's stock.
Institutional Investors Weigh In On Heritage Insurance
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its position in shares of Heritage Insurance by 222.2% during the 4th quarter. New York State Common Retirement Fund now owns 2,900 shares of the insurance provider's stock worth $35,000 after buying an additional 2,000 shares during the period. GAMMA Investing LLC raised its position in shares of Heritage Insurance by 8,472.2% in the 1st quarter. GAMMA Investing LLC now owns 3,086 shares of the insurance provider's stock valued at $450,000 after acquiring an additional 3,050 shares during the period. Strs Ohio bought a new position in Heritage Insurance during the 1st quarter worth approximately $127,000. Quantbot Technologies LP acquired a new stake in Heritage Insurance during the 1st quarter worth $141,000. Finally, CWM LLC lifted its holdings in shares of Heritage Insurance by 83.7% during the 1st 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. Institutional investors own 59.03% of the company's stock.
About Heritage Insurance
(
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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