Paul Whiting Acquires 16,000 Shares of Heritage Insurance (NYSE:HRTG) Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul Whiting bought 16,000 shares of Heritage Insurance stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $23.56 per share, for a total transaction of $376,960.00. Following the completion of the acquisition, the director owned 103,126 shares of the company’s stock, valued at approximately $2,429,648.56. This represents a 18.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Heritage Insurance Stock Performance

HRTG stock opened at $23.56 on Friday. The business’s 50-day moving average price is $26.45 and its two-hundred day moving average price is $27.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The firm has a market cap of $715.02 million, a PE ratio of 3.61 and a beta of 1.03. Heritage Insurance Holdings, Inc. has a 1-year low of $16.83 and a 1-year high of $31.98.

Heritage Insurance (NYSE:HRTG) last posted its earnings results on Thursday, May 7th. The insurance provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.34). The business had revenue of $212.66 million for the quarter, compared to the consensus estimate of $215.39 million. Heritage Insurance had a return on equity of 43.68% and a net margin of 23.76%. As a group, research analysts forecast that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in Heritage Insurance during the third quarter worth $984,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Heritage Insurance by 514.4% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 76,798 shares of the insurance provider’s stock valued at $1,934,000 after buying an additional 64,298 shares during the last quarter. Principal Financial Group Inc. increased its stake in Heritage Insurance by 201.7% in the 3rd quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider’s stock valued at $1,624,000 after buying an additional 43,113 shares during the last quarter. Instrumental Wealth LLC lifted its position in Heritage Insurance by 116.1% during the 3rd quarter. Instrumental Wealth LLC now owns 60,060 shares of the insurance provider’s stock worth $1,401,000 after buying an additional 32,269 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new stake in Heritage Insurance during the 3rd quarter worth about $960,000. Institutional investors and hedge funds own 59.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HRTG shares. Truist Financial reduced their price target on shares of Heritage Insurance from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, May 11th. 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 cut shares of Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a report on Monday, May 11th. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Finally, Weiss Ratings cut shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Heritage Insurance presently has an average rating of “Hold” and an average price target of $36.00.

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.