Heritage Insurance Holdings, Inc. (NYSE:HRTG) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Heritage Insurance Holdings, Inc. (NYSE:HRTG) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $36.50.

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Heritage Insurance from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Raymond James Financial initiated coverage on shares of Heritage Insurance in a report on Friday, October 16th. They issued a “market perform” rating for the company. Wall Street Zen upgraded shares of Heritage Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Truist Financial boosted their target price on Heritage Insurance from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Heritage Insurance from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th.

Insider Activity

In other news, CEO Ernie Garateix sold 10,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $34.88, for a total value of $348,800.00. Following the completion of the sale, the chief executive officer owned 1,040,955 shares in the company, valued at $36,308,510.40. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirk Lusk sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.16, for a total value of $341,600.00. Following the transaction, the chief financial officer directly owned 492,522 shares of the company’s stock, valued at $16,824,551.52. This represents a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,569 shares of company stock worth $2,703,920 in the last quarter. 9.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heritage Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC lifted its holdings in Heritage Insurance by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 26,303 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 489 shares during the last quarter. Optiver Holding B.V. boosted its position in shares of Heritage Insurance by 510.0% during the 1st quarter. Optiver Holding B.V. now owns 1,403 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 1,173 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in shares of Heritage Insurance in the 2nd quarter worth approximately $48,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Heritage Insurance by 23.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,264 shares of the insurance provider’s stock worth $296,000 after purchasing an additional 2,113 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC grew its stake in shares of Heritage Insurance by 35.9% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 11,854 shares of the insurance provider’s stock worth $311,000 after purchasing an additional 3,133 shares during the last quarter. 59.03% of the stock is currently owned by institutional investors.

Heritage Insurance Stock Performance

HRTG stock opened at $37.63 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of 5.36 and a beta of 0.92. The company has a 50-day simple moving average of $34.51 and a 200 day simple moving average of $29.12. Heritage Insurance has a fifty-two week low of $20.48 and a fifty-two week high of $37.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.80. The firm had revenue of $214.19 million during 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 42.41%. Sell-side analysts predict that Heritage Insurance will post 5.33 earnings per share for the current fiscal year.

About Heritage Insurance

Heritage Insurance Holdings, Inc (NYSE:HRTG) is a property and casualty insurance company focused primarily on residential insurance. Through its insurance subsidiaries, the company provides coverage for homeowners, condominium owners, renters and other residential property owners, including protection against risks such as wind, fire and other covered losses.

Heritage distributes its products through independent agents and other insurance distribution channels. Its business has historically been concentrated in catastrophe-exposed coastal markets, particularly Florida, and has also included operations in additional states across the southeastern United States.