Paul L. Whiting Purchases 2,500 Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock

Key Points

• Director Paul L. Whiting of Heritage Insurance Holdings purchased 2,500 shares at an average price of $20.50, increasing his total holdings in the company to 87,126 shares, valued at approximately $1.79 million.
• Heritage Insurance reported earnings of $1.55 EPS, exceeding estimates by $0.52, with a net margin of 12.71% and revenue of $208.04 million for the recent quarter.
• Analysts have recently altered their ratings for HRTG, with Piper Sandler raising their price target from $19.00 to $28.00, while Wall Street Zen downgraded the stock from a "strong-buy" to a "buy" rating.

Heritage Insurance Holdings, Inc. (NYSE:HRTG - Get Free Report) Director Paul L. Whiting purchased 2,500 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $20.50 per share, with a total value of $51,250.00. Following the completion of the acquisition, the director directly owned 87,126 shares in the company, valued at $1,786,083. The trade was a 2.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Heritage Insurance Stock Down 4.5%

Shares of NYSE:HRTG traded down $1.02 during midday trading on Friday, reaching $21.43. The company's stock had a trading volume of 499,759 shares, compared to its average volume of 471,893. The firm has a 50 day moving average of $22.09 and a 200-day moving average of $18.62. The firm has a market capitalization of $664.76 million, a P/E ratio of 6.18 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. Heritage Insurance Holdings, Inc. has a 12-month low of $8.70 and a 12-month high of $26.64.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced 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. Heritage Insurance had a net margin of 12.71% and a return on equity of 33.36%. The company had revenue of $208.04 million for the quarter, compared to the consensus estimate of $212.12 million. On average, research analysts anticipate that Heritage Insurance Holdings, Inc. will post 1.86 earnings per share for the current year.

Institutional Trading of Heritage Insurance

A number of institutional investors have recently made changes to their positions in HRTG. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Heritage Insurance during the 4th quarter valued at about $7,799,000. Marshall Wace LLP raised its stake in Heritage Insurance by 58.9% during the 2nd quarter. Marshall Wace LLP now owns 942,167 shares of the insurance provider's stock worth $23,498,000 after acquiring an additional 349,168 shares during the period. Prudential Financial Inc. raised its stake in Heritage Insurance by 290.8% during the 2nd quarter. Prudential Financial Inc. now owns 383,582 shares of the insurance provider's stock worth $9,567,000 after acquiring an additional 285,425 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Heritage Insurance by 69.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,377 shares of the insurance provider's stock worth $13,128,000 after acquiring an additional 216,019 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Heritage Insurance by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,569,667 shares of the insurance provider's stock valued at $18,993,000 after buying an additional 193,590 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company's stock.

Wall Street Analyst Weigh In

HRTG has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Heritage Insurance from $19.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Zacks Research upgraded shares of Heritage Insurance to a "strong-buy" rating in a report on Monday, August 11th. 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, 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 report on Thursday, May 8th.

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.