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 firm's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $20.50 per share, with a total value of $51,250.00. Following the completion of the transaction, the director owned 87,126 shares in the company, valued at approximately $1,786,083. This trade represents a 2.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Heritage Insurance Price Performance

Shares of HRTG stock traded up $0.67 during trading hours on Tuesday, reaching $21.61. The stock had a trading volume of 489,279 shares, compared to its average volume of 461,431. The stock's fifty day simple moving average is $22.24 and its 200 day simple moving average is $18.40. The company has a current ratio of 0.82, a quick ratio of 0.78 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. The firm has a market capitalization of $670.44 million, a PE ratio of 6.23 and a beta of 1.05.

Heritage Insurance (NYSE:HRTG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $1.55 earnings per share (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 business had revenue of $208.04 million during the quarter, compared to analyst estimates of $212.12 million. On average, equities research analysts predict that Heritage Insurance Holdings, Inc. will post 1.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HRTG. Piper Sandler increased their price objective 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. Wall Street Zen downgraded shares of Heritage Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Truist Financial lifted their target price 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.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Heritage Insurance by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,621 shares of the insurance provider's stock worth $196,000 after buying an additional 546 shares during the period. USA Financial Formulas purchased a new position in Heritage Insurance during the 2nd quarter valued at $25,000. Nisa Investment Advisors LLC boosted its holdings in shares of Heritage Insurance by 2,413.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,106 shares of the insurance provider's stock valued at $28,000 after buying an additional 1,062 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Heritage Insurance by 33.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,749 shares of the insurance provider's stock valued at $143,000 after buying an additional 1,432 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Heritage Insurance by 3.0% during the 4th quarter. Stifel Financial Corp now owns 56,825 shares of the insurance provider's stock valued at $688,000 after buying an additional 1,640 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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