Heritage Insurance Holdings, Inc. (NYSE:HRTG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) have been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.50.

A number of research analysts have recently commented on HRTG shares. Truist Financial increased their price objective on Heritage Insurance from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen cut shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Piper Sandler increased their target price on shares of Heritage Insurance from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th.

Heritage Insurance Stock Down 7.1%

Shares of NYSE HRTG opened at $32.71 on Friday. The stock has a market cap of $992.75 million, a P/E ratio of 4.66 and a beta of 0.89. The business’s fifty day simple moving average is $26.07 and its 200-day simple moving average is $26.06. Heritage Insurance has a 12-month low of $20.29 and a 12-month high of $36.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Heritage Insurance (NYSE:HRTG) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. The business had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.71 million. Heritage Insurance had a net margin of 25.19% and a return on equity of 44.15%. As a group, equities analysts predict that Heritage Insurance will post 4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Heritage Insurance news, CAO Sharon Binnun sold 9,200 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $30.03, for a total transaction of $276,276.00. Following the transaction, the chief accounting officer directly owned 96,388 shares of the company’s stock, valued at approximately $2,894,531.64. This trade represents a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul L. Whiting acquired 16,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $23.56 per share, for a total transaction of $376,960.00. Following the completion of the purchase, the director owned 103,126 shares of the company’s stock, valued at $2,429,648.56. This trade represents a 18.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 27,600 shares of company stock worth $744,924 over the last ninety days. Corporate insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Heritage Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 valued at $196,000 after purchasing an additional 546 shares during the period. Millennium Management LLC lifted its stake in shares of Heritage Insurance by 39.8% in the first 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 during the period. Empowered Funds LLC boosted its stake in shares of Heritage Insurance by 8.4% during the 1st quarter. Empowered Funds LLC now owns 124,859 shares of the insurance provider’s stock worth $1,800,000 after acquiring an additional 9,728 shares in the last quarter. Strs Ohio purchased a new stake in Heritage Insurance during the first quarter worth $127,000. Finally, JPMorgan Chase & Co. grew its stake in Heritage Insurance by 1,078.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,879 shares of the insurance provider’s stock valued at $3,514,000 after acquiring an additional 128,927 shares during the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc (NYSE: HRTG) is a property and casualty insurance holding company that offers homeowners insurance and related coverage products in the United States. Through its primary subsidiary, Heritage Property & Casualty Insurance Company, the firm underwrites standard and non-standard personal lines insurance, including homeowners, dwelling fire, flood, and condominium policies. Heritage leverages a network of independent insurance agents to distribute its products across select regional markets, with an emphasis on serving property owners in areas prone to severe weather events.

Founded in 2011 and headquartered in Jupiter, Florida, Heritage Insurance has grown to become one of the leading providers of residential property insurance in the state.