Heritage Insurance (NYSE:HRTG) Director Acquires $376,960.00 in Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Paul Whiting acquired 16,000 shares of Heritage Insurance stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $23.56 per share, with a total value of $376,960.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Heritage Insurance Stock Performance

HRTG opened at $23.03 on Friday. The stock has a market capitalization of $699.05 million, a price-to-earnings ratio of 3.53 and a beta of 1.03. The company has a fifty day moving average of $26.38 and a 200 day moving average of $27.00. Heritage Insurance Holdings, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $31.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80.

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 company had revenue of $212.66 million for the quarter, compared to analysts’ expectations of $215.39 million. Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. As a group, sell-side analysts forecast that Heritage Insurance Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Insurance

Several large investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Heritage Insurance in the 3rd quarter worth approximately $984,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of 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 worth $1,934,000 after buying an additional 64,298 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Heritage Insurance by 201.7% in the 3rd quarter. Principal Financial Group Inc. now owns 64,490 shares of the insurance provider’s stock worth $1,624,000 after buying an additional 43,113 shares during the last quarter. Instrumental Wealth LLC grew its position in shares of Heritage Insurance by 116.1% in 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 during the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in shares of Heritage Insurance by 27.2% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 458,929 shares of the insurance provider’s stock worth $11,556,000 after buying an additional 98,246 shares during the last quarter. Institutional investors own 59.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Heritage Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Truist Financial lowered their target price 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. Citigroup reiterated a “market perform” rating on shares of Heritage Insurance in a report on Tuesday, March 10th. Finally, Zacks Research lowered shares of Heritage Insurance from a “strong-buy” rating to a “strong sell” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.00.

About Heritage Insurance

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.