Analysts Set Heritage Insurance Holdings, Inc. (NYSE:HRTG) Target Price at $33.50

Shares of Heritage Insurance Holdings, Inc. (NYSE:HRTG) have received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. Two equities research 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 issued ratings on the stock in the last year is $33.50.

A number of equities analysts have recently commented on HRTG shares. Piper Sandler raised their price objective 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. Zacks Research raised shares of Heritage Insurance from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. 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 downgraded shares of Heritage Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, 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 research report on Monday, May 11th.

Insider Buying and Selling at Heritage Insurance

In other Heritage Insurance news, Director Paul L. Whiting purchased 16,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $23.56 per share, with a total value of $376,960.00. Following the acquisition, the director directly owned 103,126 shares in the company, valued at approximately $2,429,648.56. The trade was a 18.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sharon Binnun sold 9,200 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $26.58, for a total value of $244,536.00. Following the completion of the sale, the chief accounting officer directly owned 105,588 shares in the company, valued at approximately $2,806,529.04. The trade was a 8.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 27,600 shares of company stock valued at $735,356 in the last three months. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. raised its stake in Heritage Insurance by 510.0% in the first 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. Bank of America Corp DE increased its holdings in shares of Heritage Insurance by 92.5% in the 1st quarter. Bank of America Corp DE now owns 194,689 shares of the insurance provider’s stock worth $5,111,000 after buying an additional 93,548 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Heritage Insurance by 6.5% in the 1st quarter. Empowered Funds LLC now owns 162,178 shares of the insurance provider’s stock worth $4,257,000 after buying an additional 9,924 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Heritage Insurance by 26.7% during the 1st quarter. Quantinno Capital Management LP now owns 23,781 shares of the insurance provider’s stock valued at $624,000 after buying an additional 5,015 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Heritage Insurance by 52.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 218,655 shares of the insurance provider’s stock valued at $5,740,000 after buying an additional 75,339 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.

Heritage Insurance Stock Performance

Shares of HRTG opened at $26.94 on Wednesday. The stock’s 50-day simple moving average is $24.29 and its 200 day simple moving average is $25.78. The stock has a market capitalization of $817.60 million, a price-to-earnings ratio of 4.13 and a beta of 0.88. 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 has a 52-week low of $16.83 and a 52-week 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 analysts’ consensus estimates of $1.53 by ($0.34). Heritage Insurance had a net margin of 23.76% and a return on equity of 43.68%. The company had revenue of $212.66 million for the quarter, compared to analysts’ expectations of $215.39 million. Research analysts forecast that Heritage Insurance will post 4.33 EPS for the current fiscal year.

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.