Heritage Insurance (NYSE:HRTG) Trading Up 5.5% - Still a Buy?

Key Points

• Heritage Insurance (NYSE:HRTG) shares surged by 5.5% during mid-day trading, reaching a high of $26.72 and closing at $26.54.
• Equities analysts have mixed opinions on the stock, with ratings ranging from "hold" to "buy," while the average consensus price target is $31.50.
• The company reported a quarterly EPS of $1.55, exceeding estimates, but its revenue was slightly below expectations, highlighting mixed performance in its financials.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) shares were up 5.5% during mid-day trading on Tuesday . The stock traded as high as $26.72 and last traded at $26.54. Approximately 264,002 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 390,499 shares. The stock had previously closed at $25.17.

Wall Street Analyst Weigh In

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

Heritage Insurance Trading Up 8.0%

The company has a market cap of $842.97 million, a price-to-earnings ratio of 7.82 and a beta of 0.98. 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 firm has a fifty day moving average price of $23.58 and a 200 day moving average price of $22.07.

Heritage Insurance (NYSE:HRTG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.03 by $0.52. The company had revenue of $208.04 million during the quarter, compared to the consensus estimate of $212.12 million. Heritage Insurance had a return on equity of 33.36% and a net margin of 12.71%. As a group, equities analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Heritage Insurance news, Director Paul L. Whiting purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $20.50 per share, for a total transaction of $51,250.00. Following the purchase, the director owned 87,126 shares in the company, valued at approximately $1,786,083. The trade was a 2.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernie J. Garateix sold 8,334 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $27.24, for a total value of $227,018.16. Following the completion of the sale, the chief executive officer owned 1,237,474 shares in the company, valued at approximately $33,708,791.76. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 194,334 shares of company stock worth $4,745,788 in the last quarter. 14.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Heritage Insurance

A number of large investors have recently added to or reduced their stakes in HRTG. GAMMA Investing LLC raised its stake in 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. CWM LLC increased its position in Heritage Insurance by 83.7% during the 1st quarter. CWM LLC now owns 9,951 shares of the insurance provider's stock worth $143,000 after buying an additional 4,535 shares during the period. Bailard Inc. increased its position in Heritage Insurance by 48.6% during the 1st quarter. Bailard Inc. now owns 24,779 shares of the insurance provider's stock worth $357,000 after buying an additional 8,100 shares during the period. Kingsview Wealth Management LLC bought a new position in Heritage Insurance during the 1st quarter worth $228,000. Finally, Mackenzie Financial Corp increased its position in Heritage Insurance by 307.3% during the 1st 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 during the period. 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.

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